Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of certain central nervous system agents and psychoactive drugs. It plays a role in the preparation of substituted amphetamines and related compounds due to its aldehyde functional group and methoxy substitution pattern, which allow for selective chemical modifications. Also utilized in research settings for the development of novel organic compounds and in the creation of analogs for structure-activity relationship studies. Its reactivity makes it valuable in forming carbon-carbon bonds through condensation and nucleophilic addition reactions.