Primarily used as an intermediate in organic synthesis, this chemical plays a crucial role in the production of pharmaceuticals, particularly in the development of antifungal and antibacterial agents. Its structure allows for further functionalization, making it valuable in the creation of complex molecules. Additionally, it is employed in the synthesis of dyes and pigments, contributing to the vibrant colors in various industrial applications. In research, it serves as a building block for the development of novel compounds with potential therapeutic properties.