Used primarily as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block in the formation of more complex molecules due to the presence of both hydroxyl and ketone functional groups, which allow for diverse chemical transformations. Commonly employed in the synthesis of flavonoids and other biologically active compounds. Also finds use in the development of photoinitiators for polymer chemistry, where it contributes to light-induced curing processes in coatings and resins. Its benzyl and phenolic moieties make it suitable for antioxidant research and UV-absorbing materials.