Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of certain central nervous system agents and antidepressants. It serves as a building block in organic reactions where a protected hydroxy ketone functionality is required. The benzyl group acts as a protecting group for the alcohol, allowing selective reactions at other sites in the molecule. After desired transformations, the benzyl group can be removed via hydrogenolysis to reveal the free hydroxyl compound. Commonly employed in research and development settings for designing complex bioactive molecules.