Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs with cardiovascular and anti-inflammatory properties. Its structure supports the creation of heterocyclic compounds that enhance drug stability and biological activity. Also employed in agrochemicals for designing herbicides and plant growth regulators due to its ability to influence metabolic pathways in plants. Additionally, it serves as a building block in the preparation of functional materials, including ligands for catalysts in organic transformations.