This chemical is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of indazole-based compounds. Its structure makes it a valuable building block for creating molecules with potential therapeutic properties, such as anti-inflammatory, anticancer, and antimicrobial agents. Additionally, it serves as a key precursor in organic synthesis for constructing complex heterocyclic frameworks, which are essential in medicinal chemistry research. Its applications also extend to the development of agrochemicals and other biologically active compounds.