This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting therapeutic areas such as inflammation, cancer, and central nervous system disorders. Its structural framework allows for modifications that enhance binding affinity to specific receptors or enzymes, making it valuable in drug discovery. Additionally, it is employed in the study of structure-activity relationships (SAR) to optimize the efficacy and selectivity of potential drug candidates. In material science, it can be used in the development of organic electronic materials due to its aromatic and heterocyclic properties.