Used in organic synthesis as a key intermediate for the development of pharmaceutical compounds, particularly in the creation of molecules with potential biological activity. Its structure is valuable in medicinal chemistry for designing drugs targeting specific enzymes or receptors. Additionally, it serves as a building block in the synthesis of chromanone derivatives, which are explored for their anti-inflammatory, antioxidant, and antimicrobial properties. Researchers also utilize it in the study of structure-activity relationships to optimize drug efficacy and safety.