This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of complex organic compounds. Its structure, featuring a conjugated system with aromatic rings, makes it suitable for applications in the development of dyes and pigments, particularly those requiring specific color properties and stability. Additionally, it is employed in research and development for the synthesis of pharmaceuticals, where its unique molecular framework can be modified to create biologically active molecules. The compound is also explored in material science for the design of advanced materials, such as organic semiconductors, due to its potential electronic properties. Its role in catalysis and as a ligand in coordination chemistry further highlights its versatility in various chemical processes.