Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is valuable in the development of compounds with potential biological activity, such as anti-inflammatory and antimicrobial agents. Additionally, it is employed in the creation of dyes and pigments due to its ability to form stable complexes with metals. In research, it is utilized to study heterocyclic chemistry and to design novel molecules for medicinal chemistry applications. Its versatility makes it a useful building block in the synthesis of more complex chemical entities.