This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly those targeting neurological and cardiovascular diseases. Its unique structure allows it to act as a building block for the synthesis of complex compounds with potential therapeutic properties. Additionally, it is explored in the design of fluorescent probes and sensors due to its distinct electronic properties, making it valuable in biochemical and diagnostic applications. Researchers also investigate its role in the development of novel materials with specific optical or electronic characteristics for use in advanced technologies.