This chemical is primarily utilized in the field of organic synthesis and materials science. It serves as a key intermediate in the production of fluorescent dyes and probes, which are widely used in biological imaging and diagnostic applications. Its unique structure allows it to act as a chromophore, making it valuable in the development of sensors and markers for detecting specific molecules or cellular processes. Additionally, it is employed in the synthesis of advanced organic materials, including polymers and liquid crystals, due to its ability to influence optical and electronic properties. Its applications also extend to research in photochemistry, where it is studied for its light-absorbing and emitting characteristics.