Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of heterocyclic compounds, which are essential in creating drugs with therapeutic properties. Additionally, it finds application in the research and development of advanced materials, including organic semiconductors and light-emitting diodes (OLEDs), due to its unique electronic properties. In the field of dye chemistry, it is utilized to synthesize complex dyes and pigments for industrial and commercial use. Its versatility makes it a crucial component in the exploration of new chemical entities and innovative technologies.