Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antipsychotic and anti-inflammatory agents. Its structure allows for selective modification, making it valuable in medicinal chemistry for building complex heterocyclic systems. It is also employed in agrochemical research for designing novel pesticides due to its ability to interact with biological targets in pests. Additionally, it serves as a reagent in organic synthesis for constructing pyrrole-based frameworks found in bioactive molecules.