Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its functional groups enable easy modification for building complex organic structures. Commonly employed in condensation and substitution reactions to form chalcones, flavonoids, and heterocyclic compounds with potential antimicrobial or anticancer properties. Also utilized in the development of agrochemicals and dyes due to its reactivity and structural versatility.