Widely used in organic synthesis as a building block for creating complex molecules, particularly in the development of heterocyclic compounds. It serves as a key intermediate in the production of pharmaceuticals, where it contributes to the synthesis of drugs with potential therapeutic properties. Additionally, it finds application in material science for the development of organic semiconductors and optoelectronic materials due to its unique electronic properties. Its role in catalysis and as a ligand in coordination chemistry is also notable, aiding in various chemical transformations.