Used in organic synthesis as a key intermediate for the preparation of various heterocyclic compounds. It is particularly valuable in the development of pharmaceuticals, including potential drugs targeting neurological disorders and cancer. The compound's structure allows for further functionalization, enabling the creation of complex molecules with specific biological activities. Additionally, it is employed in the synthesis of agrochemicals and dyes, contributing to advancements in crop protection and industrial applications. Its versatility makes it a crucial building block in medicinal and materials chemistry research.