This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of pharmaceuticals and agrochemicals. Its structure makes it a valuable intermediate in the creation of heterocyclic compounds, which are often explored for their biological activities. Researchers employ it in the design of potential drug candidates, especially for targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it serves as a building block in the production of materials with optoelectronic properties, contributing to advancements in organic electronics and light-emitting devices. Its versatility in chemical reactions makes it a key component in organic synthesis laboratories.