Used in the synthesis of flavonoids and other polyphenolic compounds, this compound serves as a key intermediate in pharmaceutical and nutraceutical research. Its structure supports the development of antioxidants and anti-inflammatory agents. It is also employed in studies related to skin protection and UV absorption due to its phenolic hydroxyl groups, which contribute to free radical scavenging activity. In addition, it has potential applications in the design of novel bioactive molecules targeting metabolic and neurodegenerative disorders.