This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate for the preparation of various heterocyclic compounds. Its structure is particularly valuable in the development of pharmaceuticals, as it can be used to synthesize active pharmaceutical ingredients (APIs) with potential therapeutic properties. Additionally, it finds application in the synthesis of dyes and pigments, contributing to the coloration of materials in industries such as textiles and plastics. Its role in coordination chemistry is also noteworthy, as it can act as a ligand to form complexes with metal ions, which are often studied for their catalytic properties or potential use in material science.