This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of drugs targeting central nervous system disorders. Its structure is valuable for creating bioactive molecules with potential anti-inflammatory and analgesic properties. Additionally, it serves as a key building block in organic chemistry research for constructing complex heterocyclic compounds, which are often explored for their therapeutic potential. Its applications extend to material science, where it is used in the development of organic electronic materials due to its conjugated system and stability.