Used as an intermediate in the synthesis of flavonoids and chalcone derivatives, which exhibit biological activities such as antimicrobial, anti-inflammatory, anticancer, and antioxidant properties. Employed in pharmaceutical research for developing new therapeutic agents, including potential treatments for cancer and diabetes via enzyme inhibition by its derivatives. Also applied in the preparation of organic semiconductors and nonlinear optical materials due to its conjugated structure. Serves as a building block in the fabrication of dyes and pigments.