Used as a key intermediate in organic synthesis, particularly in the preparation of fused heterocyclic compounds. It participates in cycloaddition and condensation reactions to form pyrroles, thiophenes, and other nitrogen- and sulfur-containing rings, which are common scaffolds in pharmaceuticals and agrochemicals. Also employed in the development of conductive organic materials and dyes due to its extended conjugated system and electron-rich properties. Its reactivity allows for selective functionalization, making it valuable in the synthesis of complex molecules for research and industrial applications.