This compound is primarily utilized in the field of organic synthesis and material science. It serves as a key intermediate in the production of various dyes and pigments, particularly those used in the textile and printing industries. Its structure allows it to act as a fluorescent marker, making it valuable in biochemical assays and imaging techniques. Additionally, it is employed in the development of organic light-emitting diodes (OLEDs) due to its ability to enhance light emission efficiency. In pharmaceutical research, it is explored for its potential biological activities, including antimicrobial and anticancer properties. Its versatility makes it a significant compound in both industrial and scientific applications.