This compound is primarily utilized in the synthesis of various heterocyclic compounds, which are important in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of bioactive molecules, particularly those targeting enzyme inhibition or receptor modulation. Its structural features make it valuable in medicinal chemistry for designing drugs with potential anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it is employed in organic synthesis for constructing complex molecular frameworks, often used in material science for developing organic electronic materials or dyes. Its versatility in chemical reactions, such as cross-coupling or cyclization, enhances its role in creating novel compounds for research and industrial applications.