Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals, particularly in the development of antitumor and antimicrobial agents. Its structure is valuable in creating complex molecules for medicinal chemistry. Additionally, it is employed in the manufacture of dyes and pigments, contributing to the vibrant colors in various industrial applications. In material science, it is utilized in the synthesis of organic semiconductors and photoconductive materials, enhancing the performance of electronic devices. Its role in research extends to studying fluorescence properties, aiding in the development of advanced optical materials.