This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable for the development of compounds with potential therapeutic effects, such as those targeting the central nervous system. Additionally, it is employed in the synthesis of complex organic molecules, contributing to advancements in medicinal chemistry and drug discovery. Its methoxy and hydroxyl groups make it a versatile building block for creating derivatives with enhanced biological activity.