This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of active pharmaceutical ingredients (APIs). Its structure, featuring both hydroxyl and benzyloxy groups, makes it a valuable precursor in the creation of complex molecules with potential therapeutic properties. It is often employed in organic synthesis to introduce specific functional groups into target molecules, aiding in the production of drugs with anti-inflammatory, antioxidant, or antimicrobial activities. Additionally, it serves as a building block in the preparation of fine chemicals and specialty compounds used in research and industrial applications. Its versatility in chemical reactions, such as esterification and etherification, further enhances its utility in synthetic organic chemistry.