Used as an intermediate in the synthesis of pharmaceuticals and natural products, particularly in the development of flavonoids and other bioactive molecules. Its functional groups allow for selective reactions, making it valuable in constructing complex organic frameworks. Commonly employed in the preparation of antioxidants and anti-inflammatory agents due to its structural similarity to phenolic compounds. Also utilized in the design of chelating agents and sensors for metal ions, leveraging the hydroxyl and aldehyde moieties for coordination.