Used as an intermediate in the synthesis of flavonoids and other bioactive compounds, this compound plays a key role in pharmaceutical and agrochemical industries. Its structure supports the development of antioxidants and UV-absorbing agents, making it valuable in cosmetic formulations for skin protection. Additionally, it serves in research for developing novel heterocyclic compounds with potential antimicrobial and anti-inflammatory properties. The presence of hydroxyl and aldehyde groups allows for easy functionalization, enabling its use in condensation reactions to build complex organic molecules.