Used in organic synthesis as a key intermediate for developing polycyclic aromatic compounds with potential applications in materials science, particularly in the design of organic semiconductors and optoelectronic devices. Its fused ring structure supports extended π-conjugation, making it valuable in the study of fluorescent dyes and luminescent materials. Also investigated for use in pharmaceutical research due to structural similarity to bioactive indenone and pyrazole derivatives, potentially serving as a scaffold for kinase inhibitors or anti-inflammatory agents.