Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals. Its structure makes it suitable for use in the preparation of active pharmaceutical ingredients, particularly in the development of drugs with central nervous system activity. Commonly employed in the production of anti-inflammatory agents and analgesics due to its ability to serve as a building block in multi-step organic syntheses. Also utilized in the manufacture of fragrances and flavoring agents where aromatic and alcohol functionalities contribute to sensory properties.