This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the development of more complex chemical structures. Its nitro and cyano functional groups make it a valuable precursor in the synthesis of heterocyclic compounds, which are often explored for their potential pharmacological activities. Researchers frequently employ it in the preparation of quinoline derivatives, which are studied for their antimicrobial, anticancer, and anti-inflammatory properties. Additionally, it is used in the development of dyes and pigments due to its ability to form stable, colored compounds. Its role in medicinal chemistry is particularly notable, as it contributes to the discovery of new drug candidates targeting various diseases.