This compound is primarily utilized in the field of organic synthesis, particularly as an intermediate in the production of more complex chemical structures. Its unique structure, featuring both a hydroxyl group and a propargyl ether moiety, makes it a valuable building block in the development of pharmaceuticals and advanced materials. It is often employed in click chemistry reactions, where the alkyne group can participate in cycloaddition reactions to form triazoles, which are important in drug discovery and material science. Additionally, its aromatic ketone functionality allows it to be used in the synthesis of photoactive compounds, which are essential in the development of organic photovoltaics and light-sensitive polymers. Its versatility also extends to the creation of liquid crystal materials, where its rigid aromatic structure contributes to the desired molecular alignment properties.