This compound is primarily utilized in the field of organic synthesis and materials science due to its unique structural properties. It serves as a key intermediate in the development of advanced pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic effects. Its application extends to the creation of novel heterocyclic compounds, which are essential in drug discovery and development processes. Additionally, it is employed in the preparation of specialized materials, such as liquid crystals and polymers, which are critical in the development of electronic displays and high-performance coatings. The compound's stability and reactivity make it a valuable component in research and industrial applications where precise chemical transformations are required.