This compound is primarily used in organic synthesis as a key intermediate for the development of various heterocyclic compounds. Its structure makes it valuable in the synthesis of pharmaceuticals, particularly in the creation of molecules with potential therapeutic properties. It is often employed in the preparation of compounds that exhibit biological activities, such as anti-inflammatory, antimicrobial, or anticancer effects. Additionally, it serves as a building block in the design of organic materials, including dyes and pigments, due to its aromatic and functionalized nature. Its versatility in chemical reactions, such as cyclization and functional group transformations, makes it a useful component in research and industrial applications.