This chemical is primarily utilized in the synthesis of organic compounds, particularly in the development of dyes and pigments. Its structure allows it to act as a key intermediate in producing colorants for textiles, inks, and coatings. Additionally, it is employed in research settings for studying photochemical reactions due to its ability to undergo light-induced transformations. In material science, it is explored for its potential in creating functional materials with specific optical properties. Its role in organic synthesis also extends to the preparation of complex molecules for pharmaceutical applications, where it contributes to the development of active ingredients or intermediates.