Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceutical compounds. Its structure is particularly valuable in the creation of imidazole derivatives, which are essential in developing drugs with antifungal, antibacterial, and antihypertensive properties. Additionally, it is utilized in the preparation of ligands for catalysis, aiding in the acceleration of chemical reactions. The compound also finds application in research settings for studying biochemical pathways and developing novel therapeutic agents. Its versatility makes it a crucial component in advancing medicinal chemistry and drug discovery.