This compound finds utility in organic synthesis, particularly in the development of complex molecules due to its unique structure. It serves as a key intermediate in the production of pharmaceuticals, where its nitro group can be reduced to form amines, which are crucial in drug design. Additionally, it is used in material science for creating novel organic materials with specific electronic properties, leveraging its conjugated system. Its stability and reactivity make it suitable for research in heterocyclic chemistry, aiding in the exploration of new chemical reactions and pathways.