Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anxiolytic and sedative agents. It serves as a building block in the production of certain central nervous system (CNS) active compounds due to its affinity for benzodiazepine receptors. Also employed in agrochemicals for the formulation of plant growth regulators and fungicides. Its heterocyclic structure makes it valuable in medicinal chemistry for designing new bioactive molecules with improved metabolic stability and binding properties.