Used primarily in organic synthesis as an intermediate for pharmaceuticals and advanced materials. Its conjugated structure with alkyne and hydroxyl groups makes it valuable in creating optoelectronic compounds, including semiconducting polymers and sensors. Commonly employed in Sonogashira and other cross-coupling reactions to build complex molecular architectures for research in conductive polymers and nonlinear optical materials. Also explored in the development of bioactive molecules due to its reactive functional groups enabling derivatization for medicinal chemistry.