Used in the synthesis of pharmaceutical intermediates, particularly in the development of bioactive molecules and drug candidates. Its aldehyde functional group allows for easy modification, making it valuable in forming C–C and C–N bonds through reactions like Wittig, Grignard, or reductive amination. Commonly employed in the preparation of fragrances and flavoring agents due to its aromatic character. Also serves as a building block in agrochemicals for designing novel pesticides and plant growth regulators. Its fused ring structure provides stability and desired lipophilicity in medicinal chemistry applications.