Used in organic synthesis, particularly in the development of pharmaceuticals and bioactive molecules. It serves as a key intermediate in the preparation of compounds with potential therapeutic applications. Its ethynyl group allows for versatile chemical reactions, such as click chemistry, enabling the creation of complex molecular structures. Additionally, it is employed in material science for the development of advanced polymers and coatings, where its alcohol functionality can be utilized for cross-linking or modification purposes. Its unique structure also makes it valuable in the study of molecular interactions and the design of novel chemical entities.