Used in organic synthesis as a key intermediate for the production of various pharmaceuticals and bioactive compounds. It plays a significant role in the development of potential drug candidates, particularly in the creation of molecules with anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it is utilized in the synthesis of advanced materials, such as organic semiconductors and fluorescent dyes, due to its unique structural properties. Its furan, aldehyde, and acetyl (ketone) functional groups make it a versatile building block in the design of complex chemical structures for research and industrial applications.