Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and other biologically active compounds. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for creating analogs with improved potency and selectivity. Commonly employed in the preparation of agrochemicals and drug candidates targeting inflammatory and oncological diseases. The hydroxyl group enables easy derivatization through esterification or ether formation, facilitating its incorporation into more complex molecules.