Used in organic synthesis as a key intermediate for pharmaceuticals and natural products. Serves as a scaffold in the development of flavonoid-based compounds with antioxidant, anti-inflammatory, and anticancer properties. Employed in research for designing fluorescent probes due to its conjugated structure. Also utilized in the study of enzyme inhibitors, particularly in metabolic pathways involving kinases and oxidases. Shows potential in materials science for developing organic semiconductors and UV-absorbing coatings.