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 in the development of compounds with potential therapeutic effects, such as inhibitors for specific enzymes or receptors. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of new pesticides or herbicides. The methoxy group in its structure enhances its reactivity, making it a versatile building block for more complex molecules in medicinal and agricultural chemistry.