Used as an intermediate in the synthesis of dyes and pigments, particularly in the production of triarylmethane dyes which are valued for their intense color and stability. Also serves as a building block in the development of functional organic materials, including photochromic and electroactive compounds. Its aromatic structure and electron-donating properties make it suitable for use in certain polymerization inhibitors and antioxidants in specialty chemical formulations. Additionally, it finds use in research settings for the preparation of ligands in catalytic systems and in the design of novel organic semiconductors.