Used primarily as an intermediate in organic synthesis, especially in the preparation of heterocyclic compounds such as benzimidazoles and their derivatives, and pharmaceuticals with antimicrobial and anti-inflammatory properties. Its diketone structure allows it to participate in cyclization reactions, forming fused ring systems that are common in bioactive molecules. It is also employed in the development of dyes and fluorescent probes due to its conjugated framework, which can be modified to tune optical properties. Additionally, it serves as a building block in the synthesis of ligands for transition metal complexes used in catalysis.