Used as a key intermediate in organic synthesis, particularly in the preparation of liquid crystal materials and pharmaceuticals. Its alkyne functionality allows for coupling reactions, such as Sonogashira or click chemistry, enabling the construction of conjugated systems for optoelectronic applications. Also employed in the development of estrogen receptor modulators due to structural similarity to stilbenes, making it relevant in medicinal chemistry research. Its benzyl-protected phenol group can be deprotected and further functionalized, adding versatility in multi-step synthesis.