This compound is primarily used in organic synthesis as a building block for more complex molecules. Its unique structure makes it valuable in the development of pharmaceuticals, particularly in the creation of novel drug candidates. It can serve as a precursor in the synthesis of heterocyclic compounds, which are often explored for their potential biological activities. Additionally, it may be utilized in research focused on developing new materials with specific electronic or optical properties, given its fused ring system and functional groups. Its applications are largely experimental, contributing to advancements in medicinal chemistry and material science.