This chemical is primarily utilized in the development of advanced materials, particularly in the field of organic electronics. Its unique structure allows it to act as a building block for conjugated polymers, which are essential in creating efficient organic semiconductors. These semiconductors are widely used in organic light-emitting diodes (OLEDs), organic photovoltaic cells (OPVs), and organic field-effect transistors (OFETs). Additionally, its ability to form stable complexes with metals makes it valuable in the synthesis of coordination polymers, which have applications in catalysis, gas storage, and separation processes. The compound’s functional groups also make it suitable for use in biosensing and as a precursor for designing molecules with specific optical or electronic properties.