This compound is primarily utilized in the synthesis of various pharmaceutical intermediates. Its structure makes it a valuable building block in the development of active pharmaceutical ingredients (APIs), particularly in the creation of compounds targeting neurological and cardiovascular disorders. The methoxy and phenyl groups in its structure contribute to its ability to interact with specific biological receptors, making it useful in drug discovery and development processes. Additionally, it serves as a precursor in the production of specialty chemicals used in research and industrial applications, where its unique properties are leveraged to achieve desired chemical transformations.