Used as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the preparation of naphthoxanthene dyes and fluorescent probes. Its bromo and ketone functional groups allow for selective coupling reactions and cyclizations, making it valuable in organic synthesis. Commonly employed in the development of photochromic materials and UV-sensitive compounds due to its reactivity under irradiation. Also utilized in the production of specialty polymers and as a building block in medicinal chemistry for constructing complex polycyclic structures.