Widely used in pharmaceutical research, it serves as a key intermediate in the synthesis of various bioactive compounds, including potential anti-cancer agents due to its chemical structure that can be modified for specificity to cancer cells. Its structure is valuable in developing antimicrobial and anti-inflammatory agents. Additionally, it plays a role in creating agrochemicals, particularly in designing herbicides and fungicides. Its versatility also extends to material science, where it contributes to the development of advanced polymers and coatings.