Used as a key intermediate in the synthesis of various pharmaceuticals and natural products due to its α,β-unsaturated ketone structure, which allows for Michael addition and other conjugate reactions. Commonly employed in the development of anti-inflammatory and anticancer agents. Its phenolic moiety contributes to antioxidant properties, making it useful in research related to oxidative stress inhibition. Also utilized in the preparation of chalcone derivatives, which are studied for their biological activities including antimicrobial and antidiabetic effects.