Used as a key intermediate in the synthesis of agrochemicals and pharmaceuticals, particularly in the development of herbicides and plant growth regulators. Its structure allows for selective functionalization, making it valuable in creating compounds with biological activity. It is also employed in the preparation of dyes and fluorescent agents due to its heterocyclic backbone. In medicinal chemistry, it serves as a building block for kinase inhibitors and other bioactive molecules targeting inflammatory and oncological pathways.