This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly those targeting inflammation and microbial infections. Its structure, featuring a nitro group, a hydroxy group, a benzyloxy moiety, and an acetyl group, makes it suitable for further chemical modifications, enabling the creation of complex drug candidates. Additionally, it is employed in the synthesis of dyes and pigments due to its aromatic properties and reactivity. Researchers also explore its potential in material science for developing advanced polymers and coatings.