Used primarily as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, this compound enables the formation of urethane and urea linkages due to its reactive isocyanate group. Its aromatic ketone structure also makes it valuable in the development of photoactive materials and organic functional materials. It is commonly employed in the preparation of specialty polymers and crosslinking agents, where it contributes to enhancing thermal and mechanical stability. Additionally, it serves in research settings for labeling biomolecules and developing diagnostic reagents through selective reactions with amines and alcohols.