Used in organic synthesis as a building block for more complex chemical compounds, particularly in the development of fluorescent dyes and markers due to its anthracene moiety, which exhibits strong fluorescence properties. It is also employed in the creation of molecular probes for biological imaging and diagnostic applications, where its ability to interact with specific biological targets is utilized. Additionally, it serves as a precursor in the synthesis of pharmaceuticals, especially in the development of drugs targeting neurological disorders, where its structural features can be tailored to interact with specific receptors or enzymes.