Used in organic synthesis as a building block for creating more complex molecules. It is often employed in the preparation of pharmaceutical intermediates due to its structural properties. The compound is also utilized in the development of materials with specific optical characteristics, such as liquid crystals. Additionally, it can serve as a precursor in the synthesis of compounds with potential biological activity, including antioxidants and anti-inflammatory agents. Its conjugated system makes it valuable in research involving photochemical reactions and polymer chemistry.