Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its hydroxy and methoxy functional groups allow for derivatization in multi-step reactions, making it valuable in the development of bioactive molecules. It may also serve as a building block in the synthesis of flavonoids and other polyphenolic compounds with potential antioxidant properties. Additionally, it has been explored in the design of UV-absorbing compounds for use in cosmetics and protective coatings due to its ability to absorb in the ultraviolet range.