Used as a key intermediate in the synthesis of fluorinated pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) and selective COX-2 inhibitors. Its structure allows for efficient introduction of fluorine and methoxy groups into aromatic systems, enhancing metabolic stability and bioavailability in final drug compounds. Commonly employed in esterification and condensation reactions to build complex heterocyclic molecules. Also utilized in agrochemical research for developing herbicides and fungicides due to its reactivity and functional group compatibility.