This compound is primarily utilized in the development of novel pharmaceutical agents, particularly in the field of retinoid receptor modulation. It serves as a key intermediate in the synthesis of retinoid-like molecules, which are explored for their potential in treating skin disorders, certain cancers, and other conditions influenced by retinoid pathways. Its structure allows for selective binding to retinoid receptors, making it valuable in research aimed at understanding and targeting these receptors for therapeutic purposes. Additionally, it is investigated in material science for its potential use in creating advanced organic compounds with specific optical or electronic properties.