Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure allows for functionalization in the development of active ingredients, especially in the synthesis of substituted phenones and benzyl-protected derivatives. Commonly employed in research settings for constructing more complex molecules due to the reactivity of the carbonyl group and the protected hydroxyl moiety. Also finds use in the production of fragrances and specialty polymers where aromatic ketones are required.