Used in organic synthesis as an intermediate for pharmaceuticals and biologically active compounds, including potential applications in antimicrobials and anti-inflammatory agents. Shows potential in the development of agents with central nervous system activity, such as antidepressants or cognitive enhancers, due to its structural similarity to naphthalene and thiazole derivatives, which are common in neuroactive drugs. The structure allows easy modification to obtain derivatives with specific activities. Also investigated for use in fluorescent probes and dyes owing to its conjugated ring system, enabling applications in imaging and sensor technologies.