Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of agrochemicals and bioactive molecules. Its structure allows for easy functionalization, making it valuable in building complex heterocyclic systems. Commonly employed in cross-coupling reactions and nucleophilic substitutions to introduce the oxazole-thiophene scaffold, which is found in several antimicrobial and anti-inflammatory agents. Also utilized in research settings for the preparation of novel organic materials and ligands for catalysis.