Used in organic synthesis as a key intermediate for the development of pharmaceuticals and agrochemicals. It is particularly valuable in the construction of complex molecules due to its reactive functional groups, which allow for further chemical modifications. The compound is also employed in the synthesis of heterocyclic compounds, which are important in medicinal chemistry for their biological activities. Additionally, it serves as a building block in the production of advanced materials, such as organic semiconductors, due to its thiophene core. Its versatility makes it a useful component in research and industrial applications.