Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its structure is particularly useful in the development of fluorescent dyes and markers, which are essential in biological and chemical research for tracking and imaging purposes. Additionally, it finds application in the creation of advanced materials, including polymers and coatings, where it contributes to enhancing durability and performance. The compound is also explored in the field of optoelectronics for its potential in the development of organic light-emitting diodes (OLEDs) and other electronic devices. Its unique properties make it valuable in research and industrial applications aimed at innovation in material science and biotechnology.