Used as an intermediate in the synthesis of indane-based chemical compounds, which are important in pharmaceutical research, particularly in the development of central nervous system-related drugs, such as antidepressants or cognitive stimulants. This compound is also used in laboratories to study the formation of carbon-carbon bonds through various reactions, such as alkylation or selective reduction, which help obtain derivatives with desired biological properties. Additionally, it is utilized in the production of agrochemicals due to its reactive ketone and aromatic structure.