Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of bioactive molecules and heterocyclic compounds. Its structure allows for selective functionalization, making it valuable in constructing complex organic frameworks. Commonly employed in cross-coupling reactions to form carbon-carbon bonds, it supports the creation of drug candidates with potential antifungal, anti-inflammatory, or central nervous system activity. Also utilized in research settings for the design of novel lactone-based compounds. Additionally, it serves as a building block for synthesizing fluorescent compounds or organic materials used in electronics, such as OLEDs, due to its tunable absorption and emission properties.