Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its structure allows for selective functionalization in heterocyclic compounds, making it valuable in the development of bioactive molecules. Commonly employed in palladium-catalyzed coupling reactions to form carbon–carbon bonds, it plays a role in synthesizing complex pyrrole derivatives with potential antimicrobial, anti-inflammatory, or anticancer properties. Also utilized in the construction of natural product analogs and functional materials due to its reactivity and stability under various reaction conditions.