This chemical is primarily utilized in the field of organic synthesis and pharmaceutical research. Its unique structure makes it a valuable intermediate in the development of complex molecules, particularly those with potential biological activity. Researchers often employ it in the synthesis of novel compounds that may exhibit therapeutic properties, such as anti-inflammatory, antiviral, or anticancer effects. Additionally, its rigid framework and stereochemistry make it a useful building block for creating chiral catalysts or ligands in asymmetric synthesis, aiding in the production of enantiomerically pure substances. Its application extends to material science as well, where it can be incorporated into the design of advanced polymers or organic electronic materials due to its stable and conjugated system.