Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and fine chemicals. It is also encountered in the development of fragrances due to its ketone functionality, which can be modified to produce aromatic alcohols or other derivatives. In research settings, it acts as a building block for more complex molecules, particularly in the design of psychoactive substance analogs, though such applications are highly regulated. Its structural properties make it suitable for use in clandestine drug manufacturing, leading to strict monitoring in many jurisdictions.