Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of non-steroidal anti-inflammatory drugs (NSAIDs) and selective COX-2 inhibitors. Its structure supports the design of compounds with enhanced binding affinity to cyclooxygenase enzymes, improving therapeutic efficacy and reducing side effects. Also employed in the preparation of agrochemicals, including herbicides and fungicides, due to its ability to modulate biological activity in plant systems. Additionally, it serves as a building block in the creation of novel heterocyclic compounds for use in medicinal chemistry research and drug discovery programs.