Used in organic synthesis as a building block for more complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a ligand in coordination chemistry, aiding in the formation of metal complexes for catalytic applications. Additionally, it is employed in the research and development of materials science, especially in the creation of organic light-emitting diodes (OLEDs) due to its structural properties. Its derivatives are also explored for potential use in optoelectronic devices and as intermediates in chemical reactions.