Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of antidiabetic and anticancer compounds. Its structure supports activity as a PPARγ modulator, making it valuable in research on insulin sensitizers. Also investigated for its anti-inflammatory and antimicrobial properties in medicinal chemistry. Commonly employed in the design of heterocyclic compounds for drug discovery due to its reactive thiocarbonyl and conjugated benzylidene groups.