Used primarily as an intermediate in organic synthesis, it plays a crucial role in the production of dyes and pigments, particularly in creating vibrant colors for textiles and inks. Its structure allows it to act as a precursor in the synthesis of various heterocyclic compounds, which are essential in pharmaceutical research for developing new drugs. Additionally, it is utilized in analytical chemistry as a reagent for detecting and quantifying specific substances in complex mixtures. Its electron-deficient nature makes it valuable in studies involving electron transfer processes, aiding in the development of advanced materials for electronics and photovoltaics.