Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antifungal and antiparasitic agents. Its structure allows for easy modification, making it valuable in medicinal chemistry for developing bioactive molecules. Commonly employed in the preparation of imidazole-based drugs where the hydroxymethyl group can be further functionalized to enhance drug efficacy or pharmacokinetic properties. Also utilized in agrochemical research for developing novel fungicides.