Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of complex molecules due to the presence of both phenyl and indene groups, which can undergo diverse chemical reactions. Additionally, it finds application in material science, where it is utilized in the synthesis of organic semiconductors and light-emitting materials for electronic devices. Its unique aromatic properties also make it suitable for research in photochemistry and as a building block for advanced polymers.