This compound is primarily utilized in the field of organic synthesis, particularly as an intermediate in the production of more complex molecules. It is often employed in the development of pharmaceuticals, where its structure serves as a building block for active pharmaceutical ingredients (APIs) targeting various therapeutic areas. Additionally, it finds use in the synthesis of dyes and pigments due to its ability to form stable, colored compounds. In material science, it is explored for its potential in creating organic electronic materials, such as organic light-emitting diodes (OLEDs) and semiconductors, owing to its conjugated system and electron-rich properties. Researchers also investigate its role in catalysis and as a ligand in coordination chemistry, where it can influence the reactivity and selectivity of metal-catalyzed reactions.