Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and antidiabetic agents. It serves as a building block in agrochemicals for creating herbicides and fungicides due to its ability to enhance bioactivity. The thiol group allows for easy functionalization, enabling the formation of disulfide or sulfide derivatives in drug design. Also employed in coordination chemistry as a ligand for metal complexes with potential catalytic or biological activity.