Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its structure allows for functional group transformations, making it valuable in constructing complex molecules. Commonly employed in the development of active pharmaceutical ingredients (APIs) where the acetyl and ester groups can be modified or reduced to achieve desired biological activity. Also utilized in the synthesis of dyes and fragrances due to its aromatic and carbonyl functionalities. Its reactivity supports use in condensation reactions and cyclization processes important in heterocyclic chemistry.