This chemical is primarily utilized in organic synthesis as a versatile intermediate for the production of more complex molecules. Its unique structure, featuring alkene, alkyne, and alcohol functional groups, makes it valuable in the development of pharmaceuticals, agrochemicals, and specialty chemicals. It is often employed in reactions such as coupling, cyclization, and functional group transformations, enabling the creation of compounds with specific biological or chemical properties. Additionally, its reactive nature allows it to serve as a building block in the synthesis of polymers and advanced materials, contributing to innovations in material science and industrial applications.