Used as an intermediate in the synthesis of flavonoids and other bioactive compounds, this compound plays a role in pharmaceutical and natural product research. Its structure supports the development of molecules with antioxidant, anti-inflammatory, and antimicrobial properties. It is also employed in the preparation of chalcone derivatives, which are studied for their potential therapeutic applications, including cancer and metabolic disorder treatments. In addition, it serves as a building block in organic synthesis for creating complex aromatic systems used in medicinal chemistry.