Used primarily in organic synthesis, this compound serves as an intermediate in the development of pharmaceuticals and bioactive molecules. Its structure supports the construction of more complex heterocyclic systems, particularly in the design of drugs targeting central nervous system disorders. It also finds use in materials science, where its aromatic and conjugated framework contributes to the development of organic electronic materials and fluorescent probes. Additionally, derivatives of this compound have shown potential in medicinal chemistry research due to their antimicrobial and anti-inflammatory properties.