This compound is primarily utilized in organic synthesis, particularly in the development of organic light-emitting diodes (OLEDs). It serves as a key intermediate in the production of materials that exhibit high efficiency and stability in light emission. Additionally, it is employed in the creation of photochromic materials, which are used in smart windows and optical data storage due to their ability to change color upon exposure to light. Its structure is also explored in the design of fluorescent probes for biological imaging, aiding in the visualization of cellular processes. Furthermore, it finds application in the synthesis of organic semiconductors, which are integral components in electronic devices such as transistors and solar cells.