Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure allows for further functionalization, making it valuable in the development of bioactive molecules. Commonly employed in the synthesis of flavonoids and other aromatic compounds with antioxidant properties. Also utilized in the production of photoinitiators for UV-curable resins due to its ability to absorb ultraviolet light. Its benzyl-protected hydroxy group can be selectively deprotected, enabling controlled reactions in multi-step synthetic pathways.