This chemical is primarily utilized in the field of organic synthesis, particularly in the development of photosensitizers and dyes. It is often employed in the preparation of cyanine dyes, which are widely used in biological imaging and fluorescence labeling due to their strong absorption and emission properties. Additionally, it serves as a key intermediate in the synthesis of near-infrared (NIR) dyes, which are valuable in medical diagnostics and photodynamic therapy. Its unique structure also makes it suitable for research in optoelectronic materials, where it contributes to the development of organic light-emitting diodes (OLEDs) and other advanced photonic devices.