This compound is primarily utilized in the pharmaceutical and organic synthesis industries as a key intermediate in the production of chiral molecules. Its structure, featuring a dihydrobenzofuran ring and a tert-butyl carbamate group, makes it valuable for constructing complex molecules with specific stereochemistry. It is often employed in the development of active pharmaceutical ingredients (APIs), particularly in the synthesis of drugs targeting neurological disorders, as the benzofuran moiety is a common pharmacophore in such compounds. Additionally, its chiral nature allows for the creation of enantiomerically pure substances, which are critical in drug development to ensure efficacy and reduce side effects. The methoxy group further enhances its reactivity and selectivity in various chemical transformations, making it a versatile building block in medicinal chemistry.