Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of compounds with potential anti-cancer and anti-inflammatory properties. Additionally, it is utilized in material science for the creation of organic light-emitting diodes (OLEDs) and other electronic materials, due to its ability to enhance electron transport and luminescence properties. The compound is also explored in the synthesis of novel dyes and pigments, offering stability and unique color properties.