Used in organic synthesis, particularly in the preparation of heterocyclic compounds. It serves as a key intermediate in the development of dyes and pigments due to its conjugated system, which allows for strong light absorption. This compound is also employed in the creation of organic semiconductors and photovoltaic materials, contributing to advancements in solar cell technology. Additionally, it finds application in the pharmaceutical industry for synthesizing bioactive molecules with potential therapeutic properties. Its versatility makes it valuable in research and industrial processes.