Used in organic synthesis as a key intermediate for the preparation of various heterocyclic compounds. It plays a role in the development of fluorescent dyes and markers, which are applied in biological imaging and diagnostics. This compound is also utilized in the study of photophysical properties, aiding in the design of materials for optoelectronic devices such as organic light-emitting diodes (OLEDs). Additionally, it serves as a reagent in the detection and quantification of carbonyl compounds in analytical chemistry.