Used as a key intermediate in the synthesis of fluorescent dyes and optoelectronic materials due to its strong electron-withdrawing properties and ability to form stable conjugated systems. Its structure allows for easy functionalization, making it valuable in developing sensors for metal ions and biological molecules. Also employed in the preparation of organic semiconductors and light-emitting diodes (OLEDs) because of its high thermal stability and efficient luminescence. Additionally, it serves as a building block in pharmaceutical research for designing bioactive compounds with enhanced binding characteristics.