Used primarily in the synthesis of pharmaceuticals, particularly in the development of cardiovascular drugs due to its structural similarity to compounds that affect blood pressure and heart rate. It serves as a key intermediate in the production of anticoagulants and antiplatelet medications. Additionally, it is utilized in the creation of fragrances and flavoring agents, contributing to the aromatic profiles of various consumer products. In organic chemistry research, it acts as a building block for constructing more complex molecules, aiding in the study of chemical reactions and mechanisms. Its derivatives are also explored for potential applications in materials science, particularly in the development of organic semiconductors and photonic materials.