Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block in the development of active pharmaceutical ingredients (APIs) due to the presence of reactive ester and ether functionalities. The compound is also employed in the synthesis of anti-inflammatory agents and estrogen receptor modulators, where the benzyloxyphenyl moiety contributes to target binding. Its structure allows for further functionalization, making it valuable in medicinal chemistry for structure-activity relationship (SAR) studies. Additionally, it finds use in the production of specialty polymers and as a reagent in cross-coupling reactions.