Used in organic synthesis, particularly as a building block for creating complex molecules. It is employed in the development of organic semiconductors and optoelectronic materials due to its electron-withdrawing properties. The compound is also utilized in the synthesis of dyes and pigments, offering vibrant colors and stability. Additionally, it serves as a key intermediate in the production of pharmaceuticals, contributing to the creation of biologically active compounds. Its unique structure makes it valuable in research focused on molecular electronics and advanced material science.