This chemical is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug compounds. Its structure makes it a valuable intermediate in the creation of molecules with potential therapeutic effects, especially in the fields of oncology and infectious diseases. Researchers often employ it to develop inhibitors targeting specific enzymes or proteins involved in disease pathways. Additionally, it is explored in the design of fluorescent probes and imaging agents due to its unique photophysical properties, aiding in biological studies and diagnostics. Its versatility also extends to material science, where it is investigated for use in organic electronic devices.