Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure allows it to participate in various chemical reactions, such as cross-coupling and condensation, making it valuable for constructing complex molecules. It is also employed in the development of heterocyclic compounds, which are crucial in drug discovery and material science. Additionally, its aldehyde group enables further functionalization, aiding in the creation of diverse chemical entities for research and industrial applications.