Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of antifungal and antimicrobial agents, contributing to the formulation of medications that target harmful pathogens. Additionally, it plays a role in the synthesis of dyes and pigments, enhancing color stability and intensity in industrial applications. Its reactivity and structure make it a versatile component in research focused on creating new chemical entities with potential therapeutic benefits.