Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anticancer and anti-inflammatory agents. Its structure allows for easy modification, making it valuable in drug design for targeting specific enzymes and receptors. Also employed in agrochemicals to enhance the stability and efficacy of certain pesticides. Additionally, it serves as a building block in materials science for creating organic semiconductors and liquid crystal compounds due to its rigid aromatic framework and hydrogen-bonding capability.