Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is valuable in the development of drugs targeting inflammation and pain, particularly in the design of non-steroidal anti-inflammatory drugs (NSAIDs). Additionally, it is employed in the creation of agrochemicals, where it contributes to the formulation of pesticides and herbicides. In material science, it is utilized in the production of organic electronic materials, enhancing the performance of devices like organic light-emitting diodes (OLEDs). Its versatility also extends to chemical synthesis, where it acts as a building block for complex organic compounds.