Used in the synthesis of pharmaceutical intermediates, particularly in the development of bioactive compounds with potential neuroprotective and anti-inflammatory properties. It serves as a key building block in the preparation of alkaloid derivatives and other nitrogen-containing heterocycles. Its aldehyde and phenolic functional groups allow for versatile reactivity, enabling Schiff base formation, methylation, and condensation reactions in medicinal chemistry research. Also employed in the design of fluorescent probes due to its favorable optical characteristics in certain solvent environments.