Used primarily in organic synthesis and research, this compound serves as an intermediate in the production of more complex chemical structures. Its application is significant in the development of dyes and pigments, where it contributes to the creation of colorants with specific properties. Additionally, it is utilized in the study of photochemical reactions, helping researchers understand the behavior of molecules under light exposure. The compound's structure makes it a valuable tool in the synthesis of organic electronic materials, which are essential in the manufacturing of devices like organic light-emitting diodes (OLEDs) and solar cells.