This compound is primarily utilized in advanced material science and organic chemistry research. It serves as a key intermediate in the synthesis of complex organic molecules, particularly those with potential applications in optoelectronics and photonics. Its unique structure allows it to act as a building block for creating materials with specific optical properties, such as light-emitting diodes (LEDs) and organic photovoltaic cells. Additionally, it is explored for its potential in developing novel catalysts for asymmetric synthesis, which is crucial in the production of pharmaceuticals and fine chemicals. Its stability and reactivity make it a valuable component in experimental studies aimed at designing new materials with enhanced performance characteristics.