Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Shows potential in medicinal chemistry due to structural similarity to flavonoids, which are known for antioxidant, anti-inflammatory, and anticancer properties. Employed in research focused on developing new therapeutic agents, particularly in studies involving kinase inhibition and cell signaling pathways. Also utilized in the preparation of fluorescent probes and sensors due to its conjugated aromatic system, enabling applications in biochemical imaging and detection.