Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of anti-inflammatory and anticancer agents. Its conjugated structure allows for participation in Michael addition reactions and cyclization processes, making it valuable in constructing heterocyclic systems. Also employed in the preparation of chalcone derivatives, which exhibit biological activities such as antimicrobial, antioxidant, and antitumor properties. Commonly utilized in medicinal chemistry research for structure-activity relationship studies.