This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure makes it a valuable building block for creating more complex molecules, particularly those with potential biological activity. In medicinal chemistry, it is often employed in the development of compounds targeting specific enzymes or receptors, due to its ability to introduce specific functional groups into a molecule. Additionally, it finds application in the synthesis of dyes and pigments, where its aromatic and heterocyclic nature contributes to the desired color properties. Researchers also explore its use in material science, particularly in the development of organic semiconductors and light-emitting materials, owing to its electronic properties.