Used as a key intermediate in the synthesis of bioactive molecules, particularly in the development of anticancer and antimicrobial agents. Its structure supports conjugation in organic frameworks, making it valuable in creating chalcone-based derivatives with enhanced pharmacological activity. Commonly employed in medicinal chemistry research for designing inhibitors targeting specific enzymes and proteins involved in disease pathways. Also utilized in material science for developing fluorescent probes due to its ability to undergo intramolecular charge transfer.