Used as an intermediate in the synthesis of dyes and pigments, particularly in the production of azo dyes for textiles and inks. It is also employed in the development of photochromic compounds due to its aldehyde and hydroxyl functional groups, which allow for easy modification in light-sensitive materials. Additionally, it finds use in cosmetic formulations as a precursor for UV absorbers, helping to enhance the photostability of sunscreens and skincare products. Its reactivity makes it suitable for further chemical derivatization in pharmaceutical research.