Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its functional groups allow for selective reactions, such as bromination and ether formation, making it valuable in building complex molecules. Commonly employed in cross-coupling reactions like Suzuki or Heck reactions to form carbon-carbon bonds. Also utilized in the synthesis of bioactive compounds, including antimicrobial and anti-inflammatory agents. Its phenolic structure enables derivatization for use in medicinal chemistry and drug development.