Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antihistamines and anti-inflammatory agents. Serves as a building block in agrochemicals for developing pesticides and herbicides due to its reactive acetyl group and aromatic character. Employed in organic synthesis for creating heterocyclic compounds, which are important in drug discovery. Also utilized in the fragrance industry for synthesizing aroma chemicals, contributing to fruity and nutty scent profiles in perfumes and flavorings.