This chemical is primarily utilized in the field of organic synthesis and materials science. It serves as a key intermediate in the development of advanced organic compounds, particularly in the synthesis of heterocyclic structures. Its unique structure makes it valuable in the creation of novel materials with potential applications in electronics, such as organic semiconductors or light-emitting diodes (OLEDs). Additionally, it is explored for its role in catalysis, where it can act as a precursor for designing efficient catalysts used in various chemical reactions. Researchers also investigate its potential in medicinal chemistry for the development of bioactive molecules due to its complex and functionalized framework.