Used as a key intermediate in the synthesis of various pharmaceuticals, particularly in the development of antiviral, anticancer, antimicrobial, and anti-inflammatory agents. Its structure supports the formation of biologically active compounds by serving as a scaffold for drug design, especially for infectious and chronic diseases requiring specific molecular structures. Also employed in the preparation of fluorescent dyes and sensors due to its favorable electronic properties. Additionally, it finds use in agrochemicals for enhancing the efficacy of certain crop protection agents.