Used as a key intermediate in the synthesis of fluorescent dyes and optical brighteners due to its ability to form stable conjugated systems. Its structure supports intramolecular charge transfer, making it valuable in developing sensors for metal ions and pH indicators. Also employed in the preparation of photochromic materials for lenses and UV-protective coatings because of its reversible response to light exposure. Shows potential in pharmaceutical research for designing bioactive molecules with anti-inflammatory and antimicrobial properties.