Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs) and selective COX-2 inhibitors. Its structure allows for functionalization at multiple sites, making it valuable in constructing complex indene-based scaffolds. Commonly employed in research settings for creating analogs in medicinal chemistry programs targeting pain and inflammation. Also utilized in the preparation of chiral building blocks through asymmetric synthesis, supporting the production of enantiomerically pure drugs.