Used in organic synthesis as a key intermediate for the development of pharmaceuticals, particularly in the creation of compounds with potential therapeutic properties. It serves as a building block in the synthesis of complex molecules, including those with anti-cancer, anti-inflammatory, or antimicrobial activities. Additionally, it is employed in research for the development of new drugs targeting neurological disorders due to its structural versatility. Its applications also extend to material science, where it is utilized in the design of organic electronic materials and fluorescent probes.