This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various fluorescent dyes and optical brighteners. Its unique structure allows it to be incorporated into compounds that exhibit strong luminescent properties, making it valuable in the development of materials for imaging and sensing applications. Additionally, it is employed in research focused on creating novel photochromic and thermochromic materials, which are essential in smart coatings and advanced display technologies. Its role in the synthesis of heterocyclic compounds also extends to pharmaceuticals, where it contributes to the development of potential drug candidates with specific biological activities.