Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of compounds with potential biological activity, such as anticancer and antimicrobial agents. Additionally, it is employed in materials science for the creation of organic electronic materials, including organic light-emitting diodes (OLEDs) and semiconductors, due to its conjugated aromatic system. Researchers also utilize it in photochemical studies to explore light-induced reactions and photophysical properties.