Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its structure is valuable in the development of compounds with potential biological activity, particularly in the creation of anti-inflammatory and anticancer agents. Additionally, it is employed in material science for the synthesis of organic semiconductors and light-emitting diodes (OLEDs), contributing to advancements in electronic devices. Its unique aromatic properties also make it useful in the study of photochemical reactions and as a building block in polymer chemistry.