Used primarily as a synthetic intermediate in organic chemistry, this compound serves in the preparation of pharmaceuticals and biologically active molecules. Its structure allows for functionalization at multiple sites, making it valuable in the development of drug candidates, particularly those targeting central nervous system disorders. It is also employed in the synthesis of specialty chemicals and ligands for catalysis. Due to its aromatic and ketone functionalities, it participates in a variety of reactions including reductions, nucleophilic additions, and cyclizations, which are leveraged in complex molecule assembly.