Used as an intermediate in the synthesis of flavonoids and other bioactive compounds, this compound plays a role in pharmaceutical research, particularly in developing anti-inflammatory and antioxidant agents. Its structure supports studies on enzyme inhibition and cellular protection mechanisms. It is also utilized in cosmetic formulations for its potential skin-conditioning properties and ability to stabilize active ingredients. In agricultural chemistry, it serves as a building block for designing plant growth regulators and pest control agents with improved environmental profiles.