This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its unique structure makes it valuable in the development of compounds with potential therapeutic properties, particularly in the creation of drugs targeting neurological disorders. Additionally, it is employed in materials science for the synthesis of organic semiconductors and conductive polymers, which are essential components in electronic devices such as OLEDs and solar cells. Its versatility also extends to its use in the synthesis of dyes and pigments, contributing to advancements in the textile and printing industries.