Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure allows for functionalization in the development of active pharmaceutical ingredients (APIs), especially in routes requiring acyl or hydroxyl group modifications. Commonly employed in the synthesis of flavonoids and other bioactive molecules due to the presence of reactive sites on the aromatic ring. Also utilized in the fragrance industry owing to its aromatic character and ability to serve as a building block for scent compounds.