Used as an intermediate in organic synthesis, particularly in the preparation of biologically active compounds and pharmaceuticals. Its structure allows for further functionalization, making it valuable in the development of heterocyclic compounds. Commonly employed in research settings for synthesizing potential anti-inflammatory, antimicrobial, or antitumor agents. Also utilized in the fabrication of fluorescent dyes and optoelectronic materials due to the conjugated system involving the furan and nitrophenyl groups.