This compound is primarily utilized in the synthesis of organic molecules, particularly in the development of pharmaceutical agents and bioactive compounds. Its structure, featuring a phenethyl group and a hydroxy-methoxyphenyl moiety, makes it a valuable intermediate in creating molecules with potential antioxidant, anti-inflammatory, or antimicrobial properties. It is often employed in medicinal chemistry research to design and optimize drug candidates targeting various diseases. Additionally, it can be used in the production of fine chemicals and as a building block in organic synthesis for creating complex natural product analogs. Its applications extend to material science, where it may be incorporated into polymers or coatings to impart specific functional properties.