Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anticoagulant and anti-inflammatory agents. Its structure supports the formation of heterocyclic compounds that are important in medicinal chemistry. Commonly employed in research settings for constructing complex organic molecules due to its reactive α,β-unsaturated carbonyl system. Also utilized in the preparation of fluorescent dyes and photoactive materials because of its conjugated framework. Shows potential in agrochemical formulations as a building block for bioactive molecules.