Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of heterocyclic compounds with biological activity. Its aldehyde functional group allows for easy modification, enabling the formation of Schiff bases, alcohols, and other derivatives important in drug discovery. It is also employed in the preparation of fluorescent dyes and optoelectronic materials due to its electron-withdrawing and aromatic characteristics. In medicinal chemistry, derivatives built from this compound show potential as antimicrobial, antifungal, and anti-inflammatory agents.