This chemical is primarily utilized in organic synthesis and research applications. It serves as a key intermediate in the preparation of various organic compounds, particularly those involving conjugated systems. Its structure makes it suitable for studying photochemical reactions and as a building block in the synthesis of complex molecules. Additionally, it is employed in the development of materials with specific optical properties, such as dyes and pigments, due to its extended conjugation. Researchers also explore its potential in pharmaceutical chemistry for designing bioactive molecules. Furthermore, it is widely used as a ligand in organometallic chemistry, particularly in palladium-catalyzed cross-coupling reactions like the Heck and Suzuki couplings. Its reactivity and structural features make it a valuable tool in both academic and industrial chemistry settings.