Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of steroid derivatives and anti-inflammatory agents. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex organic molecules. It is also employed in research settings to explore new synthetic pathways and reaction mechanisms. Due to its ketone and aromatic features, it participates in condensation, reduction, and substitution reactions, which are useful in creating biologically active compounds.