Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its structure allows for easy functionalization, making it valuable in constructing nitrogen-containing heterocyclic compounds. It is also employed in the preparation of agrochemicals and functional materials, including ligands for catalysis and components in organic electronics. Its aldehyde group enables condensation reactions, useful in forming Schiff bases and other derivatives for drug discovery and material science applications.