This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its unique structure, featuring a fluorine atom and a hydroxy group, makes it a valuable building block for developing pharmaceutical agents, particularly those targeting neurological disorders and cancer. Researchers often employ it in the design and synthesis of novel drug candidates due to its potential to enhance binding affinity and metabolic stability. Additionally, it has been explored in the development of fluorescent probes and imaging agents, leveraging its structural properties for applications in biochemical research and diagnostics.