Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective binding to enzyme active sites, enhancing drug efficacy. Also employed in research for designing new bioactive molecules due to its ability to mimic natural metabolites. Shows potential in agrochemicals as a building block for herbicides and plant growth regulators. Its hydroxyl and carbonyl groups facilitate derivatization, making it valuable in medicinal chemistry for structure-activity relationship studies.