Used as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of antifungal and antiviral agents. Its structure allows for further functionalization in heterocyclic chemistry, making it valuable in medicinal chemistry research. Commonly employed in cross-coupling reactions such as Suzuki and Heck reactions to build complex organic molecules. Also utilized in the preparation of furan-based derivatives for studying structure-activity relationships in drug design.