Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and anti-inflammatory agents. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for constructing heterocyclic systems. It is also employed in the preparation of fluorescent probes due to its conjugated framework, which can enhance detection sensitivity in biochemical assays. Additionally, it serves in agrochemical research for designing new bioactive molecules with potential pesticidal or herbicidal activity.