Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and anti-inflammatory agents. It serves as a building block in agrochemicals for creating herbicides and fungicides due to its ability to enhance molecular stability and binding affinity. Also employed in research for coordination chemistry, where it acts as a ligand in metal-organic frameworks. Its hydroxyl and pyrazole functionalities allow for diverse derivatization, making it valuable in drug discovery and material science.