Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for the creation of complex molecules, particularly in the development of drugs targeting neurological and cardiovascular diseases. Additionally, it is utilized in the synthesis of organic electronic materials, contributing to advancements in conductive polymers and light-emitting diodes (LEDs). Its versatility also extends to the field of material science, where it aids in the design of novel polymers with specific optical and electronic properties.