This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various heterocyclic compounds. Its structure is particularly valuable in the development of pharmaceuticals, as it can be incorporated into molecules with potential biological activity. Researchers often employ it in the synthesis of small-molecule inhibitors that target specific enzymes or receptors, making it a crucial component in drug discovery projects. Additionally, it is used in the preparation of agrochemicals, where its derivatives may exhibit pesticidal or herbicidal properties. Its versatility also extends to material science, where it can be used to create novel organic materials with unique electronic or optical properties.