Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various heterocyclic compounds. Its structure makes it valuable in the development of pharmaceuticals, particularly in the synthesis of potential therapeutic agents targeting enzymes or receptors. Additionally, it is employed in research settings to study its biological activity, including antimicrobial and anti-inflammatory properties. Its applications also extend to material science, where it is explored for the development of organic electronic materials due to its conjugated system.