This compound is primarily utilized in organic synthesis as a versatile intermediate for the production of various heterocyclic compounds. Its structure, featuring both a furan ring and an allyl alcohol group, makes it valuable in constructing complex molecules, particularly in pharmaceutical research. It is often employed in the development of bioactive molecules, including potential drugs targeting neurological or inflammatory conditions. Additionally, it serves as a precursor in the synthesis of flavor and fragrance compounds, contributing to the creation of unique aromatic profiles. Its reactivity also makes it useful in polymer chemistry for designing functionalized polymers with specific properties.