Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various organic materials. Its structure is particularly useful in the development of dyes and pigments, offering vibrant colors and stability. Additionally, it plays a role in the synthesis of pharmaceuticals, contributing to the creation of compounds with potential therapeutic properties. In research, it is utilized in studies focusing on photochemical reactions due to its ability to undergo specific light-induced transformations. Its application extends to material science, where it aids in the development of advanced materials with unique optical properties.