Used in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of compounds with potential therapeutic properties, such as anti-inflammatory and anticancer agents. Its structure allows for further functionalization, making it valuable in the design of drug candidates. Additionally, it is employed in material science for creating organic electronic materials, including semiconductors and conductive polymers, due to its conjugated system. Its versatility in forming stable derivatives makes it a useful building block in various research and industrial applications.