Widely used in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate in constructing biologically active molecules. Its structure supports the development of compounds with anti-inflammatory, antimicrobial, and antitumor properties. It is also employed in the preparation of fragrances and flavoring agents due to its aromatic characteristics. In materials science, it acts as a building block for organic semiconductors and fluorescent dyes. Its reactivity allows for easy functionalization, making it valuable in drug discovery and development pipelines.