This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the development of various heterocyclic compounds. Its unique structure makes it valuable for constructing complex molecules, particularly in pharmaceutical research. It is often employed in the synthesis of potential drug candidates, especially those targeting specific biological pathways or enzymes. Additionally, it finds application in material science, where it contributes to the development of organic electronic materials due to its conjugated system, which can enhance electronic properties. Researchers also explore its use in designing fluorescent probes or sensors, leveraging its structural features for specific molecular recognition.