Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of estrogen receptor modulators. It also serves as a building block in the development of compounds with antioxidant properties. Its structure supports use in creating biologically active molecules, especially those targeting hormonal and metabolic pathways. Additionally, it finds application in research related to skin-lightening agents due to its phenolic hydroxyl group, which can inhibit tyrosinase activity.