Used as a key intermediate in the synthesis of heterocyclic compounds, particularly in the preparation of thiazole and thiadiazole derivatives which exhibit biological activities such as antimicrobial, antifungal, and antitumor properties. It serves as a ligand in coordination chemistry, forming stable complexes with transition metals that are studied for catalytic and medicinal applications. Also employed in the development of novel pharmaceuticals due to its ability to participate in cyclization reactions that build nitrogen- and sulfur-containing rings. Its reactivity toward aldehydes and amines makes it useful in multicomponent reactions for drug discovery.