This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various dyes and pigments. Its unique structure allows it to participate in conjugation reactions, making it valuable for creating compounds with specific optical properties. Additionally, it finds application in the development of advanced materials, particularly those requiring light-absorbing or light-emitting characteristics. In research, it is often employed in the study of photochemical processes due to its ability to undergo reversible photoisomerization, which is useful in understanding light-induced molecular transformations. Furthermore, it has potential applications in the design of molecular switches and sensors, leveraging its responsiveness to external stimuli such as light or pH changes.