Used as an intermediate in organic synthesis, particularly in the preparation of heterocyclic compounds. It plays a role in the development of pharmaceuticals due to its ability to participate in cyclization reactions that form bioactive molecule scaffolds. Commonly employed in the synthesis of indole and oxazole derivatives, which exhibit antimicrobial, anti-inflammatory, and anticancer activities. Also utilized in agrochemical research for designing novel pesticide agents owing to its reactivity with nucleophiles and stability under various reaction conditions.