Used as an intermediate in organic synthesis, particularly in the production of fragrances and flavor compounds. It serves as a building block for creating complex molecules in the perfume industry due to its ability to undergo selective reactions that form desired aromatic structures. Also utilized in the synthesis of vitamins, especially vitamin E, where it contributes to constructing the side chain. Its alkyne and alcohol functional groups allow for versatile chemical modifications, making it valuable in pharmaceutical and agrochemical research.