Used as a key intermediate in the synthesis of fluorescent dyes and optical brighteners due to its strong photoluminescent properties. Its structure allows for easy functionalization, making it valuable in developing sensors for metal ions, especially copper and mercury, in environmental and biological systems. Also employed in the preparation of pharmaceuticals with anti-inflammatory and antimicrobial activities. Shows potential in materials science for creating light-emitting diodes (LEDs) and organic semiconductors because of its electron-transport characteristics and thermal stability.