Used in organic synthesis as a key intermediate for the preparation of various heterocyclic compounds, particularly in the development of pharmaceuticals and agrochemicals. It plays a role in the synthesis of dyes and pigments due to its ability to form stable conjugated systems. Additionally, it is utilized in material science for creating organic semiconductors and optoelectronic materials, owing to its electron-accepting properties. Its structure also makes it suitable for use in the design of sensors and molecular probes for detecting specific analytes in analytical chemistry.