Used as a key intermediate in organic synthesis, particularly in the preparation of heterocyclic compounds and pharmaceuticals. It serves as a precursor in the synthesis of furan-based ligands and coordination complexes due to its ability to chelate metal ions. Also employed in the development of fluorescent sensors and dyes, where its structural framework enhances photophysical properties. Additionally, it finds use in research related to catalysis and materials science, especially in constructing functionalized organic frameworks.