Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the preparation of anticoagulant and anti-inflammatory agents. It serves as a building block in organic synthesis due to its reactive diketone functionality, enabling cyclization reactions to form heterocyclic compounds like imidazoles and pyrazoles. Also employed in the development of agrochemicals and dyes, where its aromatic ketone structure contributes to molecular stability and reactivity. Its ability to undergo selective reductions and condensations makes it valuable in fine chemical manufacturing.