This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its unique structure makes it valuable for constructing heterocyclic compounds, which are often employed in the development of pharmaceuticals and agrochemicals. Additionally, it finds application in material science, particularly in the synthesis of organic semiconductors and light-emitting materials used in electronic devices. Its ability to act as a building block for functional materials underscores its importance in advancing technologies related to optoelectronics and photovoltaics.