Used primarily in organic synthesis, it serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure is valuable in creating compounds with potential biological activity, such as anti-inflammatory and antimicrobial agents. Additionally, it is employed in the development of organic electronic materials, particularly in the fabrication of light-emitting diodes (LEDs) and organic photovoltaics, due to its electron-accepting properties. Its derivatives are also explored in dye-sensitized solar cells for enhanced efficiency.