Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and related analgesic compounds. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex organic molecules. It is also employed in research settings to develop new bioactive compounds with potential activity in central nervous system disorders. Due to its ketone and aromatic features, it participates in condensation, reduction, and substitution reactions useful in heterocyclic synthesis.