Used in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) for treating neurological disorders. It serves as a key intermediate in the production of compounds that target specific receptors in the brain. Additionally, it is employed in organic chemistry research for creating novel heterocyclic compounds, which are essential in drug discovery and development. Its methoxy and hydroxyl functional groups make it a versatile building block for modifying molecular structures to enhance drug efficacy and selectivity.