This compound is primarily utilized in organic synthesis as an intermediate for the development of more complex molecules. It serves as a key building block in the preparation of various heterocyclic compounds, which are often explored for their potential biological activities. Researchers leverage its structure to synthesize derivatives that may exhibit pharmacological properties, such as antimicrobial, anti-inflammatory, or anticancer effects. Additionally, it is employed in the study of chromanone-based compounds, which are of interest in medicinal chemistry due to their diverse therapeutic applications. Its role in the synthesis of novel chemical entities makes it valuable in drug discovery and development processes.