Used primarily in organic synthesis and materials science, this compound serves as a key intermediate in the development of advanced organic materials. Its unique structure makes it valuable for creating fluorescent dyes and pigments, particularly in applications requiring high stability and brightness. It is also employed in the research of optoelectronic devices, such as organic light-emitting diodes (OLEDs), due to its potential to enhance efficiency and performance. Additionally, its spiro-configured framework is explored in the design of molecular sensors and probes for detecting specific analytes in analytical chemistry.