Used as an intermediate in organic synthesis, particularly in pharmaceutical and agrochemical industries. It serves as a building block for the preparation of more complex heterocyclic compounds due to the reactivity of the pyridine ring and the benzyl protecting group. Commonly employed in the development of drugs targeting central nervous system disorders and in the synthesis of catalysts for cross-coupling reactions. Its oxygen functionality allows for further derivatization, making it valuable in medicinal chemistry research and development.