Used primarily as an intermediate in organic synthesis, particularly in the preparation of heterocyclic compounds. It plays a key role in the synthesis of isoxazoles and other nitrogen-containing rings through cyclization reactions. Commonly employed in pharmaceutical research for constructing bioactive molecule scaffolds. Also utilized in coordination chemistry as a ligand for metal ions, forming stable chelate complexes. Its reactivity with nucleophiles and ability to undergo condensation make it valuable in developing dyes and functional materials.