Used as an intermediate in organic synthesis, particularly in the preparation of chalcone derivatives which exhibit biological activities such as anti-inflammatory, antimicrobial, and anticancer properties. It serves as a building block in the development of flavonoids and other polyphenolic compounds. Also employed in the synthesis of pharmaceuticals and agrochemicals due to its reactive olefinic and hydroxyl functional groups. Its conjugated system makes it useful in materials science for designing nonlinear optical materials.