Used as a key intermediate in the synthesis of flavonoid-based pharmaceuticals, particularly in the development of anti-inflammatory and antioxidant agents. Commonly employed in research for its ability to modulate enzyme activity, including inhibition of kinases involved in cell signaling pathways. Also utilized in the preparation of fluorescent probes due to its inherent photoluminescent properties, making it valuable in biochemical imaging and sensor technologies. Shows potential in cosmetic formulations for skin protection against oxidative stress.