This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It serves as a foundational structure for developing potential therapeutic agents, particularly in the design of kinase inhibitors. Kinase inhibitors are crucial in targeting specific enzymes involved in cell signaling pathways, making them valuable in cancer treatment and other diseases. Additionally, its methoxy group enhances its reactivity, allowing for further chemical modifications to optimize drug-like properties. Researchers also explore its application in creating novel compounds with anti-inflammatory, antimicrobial, or antiviral activities, contributing to the discovery of new pharmaceuticals.