Used in organic synthesis for the development of pharmaceuticals, particularly in the creation of compounds with potential therapeutic effects. It serves as a key intermediate in the production of various biologically active molecules, including those with anti-inflammatory, anticancer, and antimicrobial properties. Additionally, it is utilized in material science for the synthesis of advanced polymers and dyes, contributing to the development of high-performance materials. Its versatile structure allows for modifications that enhance its application in medicinal chemistry and industrial processes.