Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure is particularly valuable in the creation of compounds targeting neurological disorders, including antidepressants and anxiolytics. Additionally, it finds application in the development of organic light-emitting diodes (OLEDs) due to its electron-donating properties, enhancing device efficiency. In material science, it is utilized in the preparation of advanced polymers and coatings, contributing to improved durability and performance.