This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure, featuring both methoxy and phenyl groups, makes it a valuable precursor in the synthesis of pharmaceuticals, particularly those targeting neurological disorders. Additionally, it is employed in the development of agrochemicals, where its unique chemical framework contributes to the creation of compounds with specific biological activities. Researchers also explore its potential in material science, particularly in the design of organic electronic materials due to its conjugated system, which can influence electronic properties.