Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anti-inflammatory and central nervous system agents. Its structure allows for derivatization in drug design, making it valuable in creating active pharmaceutical ingredients. Commonly employed in research settings for building complex molecules due to its reactive carbonyl group and aromatic substitution pattern. Also utilized in the preparation of fluorinated organic compounds, which are important in medicinal chemistry for improving metabolic stability and bioavailability.