This compound is primarily utilized in the pharmaceutical and agrochemical industries due to its unique structural properties. In pharmaceuticals, it serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting neurological disorders and cancer. Its fused ring structure allows it to interact effectively with biological targets, making it valuable in drug development. In agrochemicals, it is employed in the creation of pesticides and herbicides, where its chemical framework contributes to the efficacy of these products in controlling pests and weeds. Additionally, its derivatives are explored for their potential in material science, particularly in the development of organic semiconductors and light-emitting diodes (LEDs).