Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of steroid receptor modulators and anti-inflammatory agents. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex organic molecules. It is also employed in the preparation of bioactive compounds targeting hormonal disorders and certain types of cancer. Additionally, it serves as a building block in the creation of specialty chemicals and agrochemicals due to its reactive carbonyl and aromatic groups.