Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antifungal and anticancer agents. Its functional groups allow for easy modification, making it valuable in medicinal chemistry for building complex heterocyclic compounds. Also employed in the preparation of ligands for metal-catalyzed reactions, contributing to advancements in catalysis research. Additionally, it finds use in the design of functional materials due to its ability to form coordination polymers and metal-organic frameworks (MOFs).