This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and psychiatric disorders. Its structure serves as a key intermediate in the development of molecules that interact with serotonin receptors, making it valuable in the creation of potential antidepressants or anxiolytics. Additionally, it is employed in organic chemistry research for the construction of complex heterocyclic compounds, which are often explored for their biological activities. Its application extends to material science, where it is used in the development of organic semiconductors and light-emitting materials due to its conjugated system.