Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the preparation of chiral compounds for drug development. It serves as a building block in asymmetric synthesis due to the presence of both hydroxyl and carbonyl functional groups, which allow for selective transformations. Commonly employed in the production of analgesics and anti-inflammatory agents. Also utilized in the development of photoinitiators for polymer chemistry, where it contributes to light-induced curing processes in coatings, inks, and adhesives. Its aromatic structure enhances UV absorption, making it suitable for applications requiring photo-reactivity.