Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of antiviral and anticancer agents. Its structure supports click chemistry applications, making it valuable in drug discovery for building bioactive molecules efficiently. It is also employed in agrochemical research for designing new active ingredients with improved stability and selectivity. Additionally, it serves in material science for creating functional polymers and fluorescent probes due to its ability to participate in copper-catalyzed cycloaddition reactions.