Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) for drugs targeting inflammation, cancer, and central nervous system disorders. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building heterocyclic compounds. It is also employed in agrochemical research for the creation of pesticides and herbicides due to its ability to enhance bioactivity in molecular frameworks. Additionally, it serves in the preparation of coordination compounds and catalysts in organic synthesis.