Used as a key intermediate in the synthesis of functional organic materials, particularly in the development of photochromic and electroactive compounds. Its structure supports reversible redox behavior, making it valuable in research on organic semiconductors and molecular switches. Also employed in studies of singlet oxygen generation due to its photosensitizing properties, with potential applications in photodynamic therapy and environmental remediation. Additionally, it serves as a building block in the preparation of advanced dyes and pigments where thermal and photochemical stability are required.