Used in organic synthesis, particularly in the development of advanced materials and pharmaceuticals. It serves as a key intermediate in the production of organic electronic materials, such as those used in OLEDs and solar cells, due to its conjugated structure. The compound is also utilized in the synthesis of bioactive molecules and drug candidates, where its formyl and phenol groups enable further functionalization. Additionally, it finds application in the creation of liquid crystals and polymers with tailored properties for industrial use.