Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system active agents. Its functional groups enable efficient derivatization for building complex drug molecules. Also employed in the preparation of agrochemicals and bioactive compounds due to its chlorine and methoxy moieties, which enhance binding selectivity and metabolic stability. Commonly utilized in research settings for constructing heterocyclic systems through cyclization or condensation reactions.