Used in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting inflammation and cancer. Its structure allows for the creation of bioactive molecules that can interact with specific enzymes or receptors. Additionally, it is employed in the synthesis of advanced materials, such as organic semiconductors, due to its ability to form stable conjugated systems. Researchers also utilize it in the design of metal-organic frameworks (MOFs) for applications in catalysis and gas storage. Its versatility makes it valuable in both medicinal chemistry and material science.