Used as a key intermediate in the synthesis of fluorescent dyes and bioimaging agents due to its strong electron-withdrawing properties and ability to enhance photostability. Its structure supports conjugation in organic semiconductors, making it valuable in developing materials for optoelectronic devices such as OLEDs and sensors. Also explored in medicinal chemistry for designing heterocyclic compounds with potential antimicrobial and anticancer activities. The carboxylic acid group allows for easy functionalization, enabling conjugation to biomolecules for use in biochemical assays and labeling techniques.