Used in organic synthesis as a building block for more complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as an intermediate in the production of compounds with potential biological activity, such as inhibitors or modulators for specific enzymes or receptors. Additionally, it is employed in research to create conjugated systems for materials science, including polymers and organic electronics, due to its phenyl and alkyne functional groups. Its versatility makes it valuable in medicinal chemistry for drug discovery and development.