Used in organic synthesis as a key intermediate for creating complex organic molecules, particularly in the development of fluorescent dyes and pigments. Its structure is valuable in the study of photophysical properties, making it useful in materials science for designing light-emitting materials. Additionally, it serves as a building block in the synthesis of organic semiconductors and optoelectronic devices, contributing to advancements in solar cells and organic light-emitting diodes (OLEDs).