This compound is primarily utilized in organic synthesis as an intermediate for the production of more complex chemical structures. Its methoxy groups and indanone core make it a valuable building block in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. It is also employed in the research and development of agrochemicals, where it serves as a precursor in the creation of new pesticides or herbicides. Additionally, its unique structure allows it to be used in the study of chemical reactions and mechanisms, aiding in the advancement of synthetic methodologies.