Used as an intermediate in the synthesis of fluorinated pharmaceuticals and bioactive compounds. Its structure supports the development of drugs with enhanced metabolic stability and binding affinity. Commonly employed in the preparation of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Also utilized in agrochemical research for designing herbicides and plant growth regulators due to its ability to mimic aromatic metabolites. The presence of both hydroxyl and ester functionalities allows for diverse chemical modifications, making it valuable in medicinal chemistry and drug discovery.