This compound is primarily utilized in the field of organic synthesis and materials science. It serves as a key intermediate in the development of various heterocyclic compounds, which are essential in the creation of pharmaceuticals and agrochemicals. Its structure is particularly valuable in the design of molecules with potential biological activity, such as antimicrobial, antifungal, and anticancer agents. Additionally, it is employed in the synthesis of organic electronic materials, including light-emitting diodes (LEDs) and organic photovoltaics, due to its ability to enhance electron transport properties. Researchers also explore its use in the development of sensors and fluorescent probes, leveraging its unique chemical properties for detection and imaging applications.