Used primarily in the development of organic synthesis intermediates, this compound plays a crucial role in producing complex molecules for pharmaceutical research. It is particularly valued in the synthesis of polyphenolic compounds, which are studied for their antioxidant properties and potential health benefits. Additionally, it serves as a building block in the creation of novel materials with specific optical properties, useful in the field of organic electronics. Its structural features make it a candidate for designing inhibitors in biochemical pathways, aiding in the study of enzyme mechanisms and drug discovery.