Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its structure is particularly valuable in the development of compounds with potential anti-inflammatory and anticancer properties. Additionally, it is utilized in research settings to study photochemical reactions due to its ability to undergo isomerization under light exposure. In material science, it contributes to the creation of advanced polymers and liquid crystals, enhancing their optical properties for use in displays and sensors.