This compound serves as a key intermediate in the synthesis of selective estrogen receptor modulators (SERMs), such as raloxifene, for pharmaceutical applications in treating hormone-related diseases like breast cancer. Its structure mimics estrogen, enabling it to bind to estrogen receptors and inhibit cancer cell growth. Additionally, owing to its extended π-conjugated system and fluorescence properties, it is utilized in the development of organic light-emitting diodes (OLEDs) as a component in emissive layers to improve efficiency and brightness. It also contributes to advanced optoelectronic devices, sensors for biological molecule detection, and research in photoresponsive materials and photodynamic therapy.