Used in organic synthesis as a key intermediate for producing pharmaceuticals and agrochemicals. It serves as a precursor in the development of compounds with potential anti-inflammatory, antimicrobial, and anticancer properties. Its structure is valuable in constructing complex molecules for drug discovery. Additionally, it is employed in research for synthesizing heterocyclic compounds, which are important in material science and chemical biology. Its role in catalysis and coordination chemistry is also notable, aiding in the creation of novel catalysts for industrial processes.