Used primarily in organic synthesis and materials science, this compound serves as a key intermediate in the development of pharmaceuticals and agrochemicals. Its structure supports cross-coupling reactions, making it valuable in the preparation of complex aromatic systems. It is also employed in the research of fluorescent materials and optoelectronic devices due to its conjugated framework, which can enhance electron transport properties. In medicinal chemistry, derivatives of this compound are explored for their potential biological activity, including kinase inhibition and antimicrobial effects.