Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves in acetylation reactions where selective protection or activation of functional groups is required. Its structure allows for the introduction of methoxyphenylacetyl moieties, useful in the development of bioactive molecules. Commonly applied in research settings for synthesizing analogs of anti-inflammatory or central nervous system-active compounds. Also utilized in the production of fragrances and dyes due to its aromatic characteristics.