Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of fluorinated drugs where the fluorine atom enhances metabolic stability and bioavailability. Commonly employed in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and selective estrogen receptor modulators (SERMs). Also utilized in agrochemicals for creating herbicides and fungicides due to its ability to improve lipophilicity and target specificity. Its aldehyde and hydroxyl functional groups allow for easy derivatization, making it valuable in organic synthesis and medicinal chemistry research.