Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for easy functionalization, making it valuable in building more complex organic compounds. Commonly employed in condensation and coupling reactions to form chalcone derivatives, which exhibit antimicrobial, antifungal, and anticancer properties. Also utilized in the development of agrochemicals and dyes due to its reactivity and stability in various reaction conditions.