Used as a key intermediate in the synthesis of organic compounds, particularly in the development of dyes and pigments due to its ability to form stable, colored complexes. It is also employed in the production of advanced materials, such as liquid crystals and polymers, where its rigid structure enhances thermal stability and optical properties. In research, it serves as a building block for creating novel organic frameworks and catalysts. Additionally, its fluorescence properties make it useful in the study of photophysical processes and in the design of sensors or optoelectronic devices.