Used as a key intermediate in the synthesis of flavonoid-based pharmaceuticals and bioactive compounds. Exhibits potential in medicinal chemistry due to its structural similarity to chalcones, which show antimicrobial, anti-inflammatory, and anticancer activities. Employed in research for developing new therapeutic agents targeting oxidative stress and cancer cell proliferation. Also utilized in the preparation of fluorescent probes and sensors due to its conjugated system and ability to undergo intramolecular charge transfer.