Used as a key intermediate in the synthesis of flavonoid-based pharmaceuticals, particularly in developing anti-inflammatory, antioxidant, and anticancer agents. It serves as a structural scaffold in medicinal chemistry for designing compounds that modulate enzyme activity, such as kinase inhibitors. Also employed in the development of fluorescent probes and dyes due to its conjugated aromatic system, which exhibits favorable photophysical properties. Its derivatives are explored in agrochemicals for plant protection and growth regulation.