This chemical is primarily utilized in the synthesis of various pharmaceutical compounds. It serves as a key intermediate in the production of drugs that target neurological disorders, particularly those related to serotonin regulation. Its structure allows it to interact effectively with specific receptors in the brain, making it valuable in the development of antidepressants and anxiolytics. Additionally, it is employed in research settings to study the biochemical pathways involved in neurotransmitter activity. Its methoxy and amine functional groups contribute to its reactivity and versatility in organic synthesis, enabling the creation of complex molecules with potential therapeutic applications.