Used as an intermediate in the synthesis of biologically active flavonoid derivatives. Exhibits potential in pharmaceutical research due to its structural similarity to natural antioxidants and anti-inflammatory agents. Commonly employed in the development of kinase inhibitors and antimicrobial compounds. Also utilized in fluorescent probe design owing to its chromone backbone, which shows favorable photophysical properties. Frequently modified at the 3- and 7-positions to enhance binding affinity or solubility in drug discovery programs.