Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and anti-inflammatory agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for creating compounds with biological activity. It is also employed in agrochemical research for designing new pesticides and herbicides due to its ability to interact with specific enzyme systems in pests. Additionally, it serves as a building block in the preparation of specialty chemicals and heterocyclic compounds used in materials science.