Used as an intermediate in the synthesis of dyes and pigments, particularly in the production of indigo and related colorants for textiles and inks. Also serves as a building block in pharmaceutical research, especially in the development of compounds with biological activity, including potential anti-inflammatory and anticancer agents. Its structural framework is valuable in creating novel heterocyclic compounds for drug discovery. Additionally, it finds use in the preparation of functional materials and agrochemicals due to its stability and reactivity profile.