Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of anti-inflammatory and anticancer agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building complex heterocyclic systems. Commonly employed in cross-coupling reactions and multistep syntheses to introduce furan and aniline moieties into target molecules. Also utilized in the preparation of bioactive molecules and drug candidates due to its favorable reactivity and stability.