Used as a key intermediate in the synthesis of flavonoids and chalcone derivatives, which exhibit biological activities such as anti-inflammatory, antioxidant, and anticancer properties. Commonly employed in pharmaceutical research for developing new therapeutic agents. Also utilized in the preparation of organic nonlinear optical materials due to its conjugated π-electron system. Serves as a building block in the fabrication of fluorescent probes and sensors for detecting metal ions and biomolecules. Widely applied in medicinal chemistry for structure-activity relationship studies of potential drug candidates.