This compound is primarily utilized in the synthesis of various pharmaceutical intermediates. It serves as a key building block in the development of polyphenolic derivatives, which are known for their antioxidant properties. Researchers often employ it in the study of bioactive molecules, particularly those targeting oxidative stress-related diseases. Additionally, it is used in organic synthesis to create complex structures for potential drug candidates, especially in the field of anti-inflammatory and neuroprotective agents. Its role in the preparation of polyphenol-based compounds also makes it relevant in cosmetic formulations aimed at skin protection and anti-aging.