Used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its functional groups make it suitable for use in methylation and acylation reactions. Commonly employed in the development of fragrances and flavoring agents due to its aromatic characteristics. Also utilized in the synthesis of photoinitiators for UV-curable coatings and resins, where it contributes to efficient radical generation under light exposure. Its derivatives are explored in medicinal chemistry for potential bioactive properties.