Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anticonvulsant and anti-inflammatory agents. Its structural framework supports the creation of bioactive molecules due to the stability and reactivity of the furanone ring combined with the lipophilic diphenyl groups. Also employed in the preparation of organic semiconductors and fluorescent dyes, where the conjugated system enhances electron delocalization and optical properties. Additionally, it serves as a building block in the design of novel polymers with enhanced thermal and mechanical stability.