This chemical is primarily used in the field of organic synthesis and pharmaceutical research. It serves as an intermediate in the production of more complex molecules, particularly those with potential therapeutic applications. The compound's structure, featuring a benzodioxin ring and a hydroxyethyl group, makes it valuable for designing drugs targeting neurological and cardiovascular systems. It is also utilized in the development of chiral compounds, where its stereochemistry plays a critical role in achieving desired biological activity. Additionally, it may be employed in the study of enzyme inhibition and receptor binding due to its unique molecular framework.