Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) and COX-2 inhibitors. Its structure supports the formation of biologically active molecules by serving as a building block in heterocyclic chemistry. Also employed in agrochemicals for the production of herbicides and plant growth regulators due to its ability to modulate biological activity in crop protection agents. Additionally, it finds use in coordination chemistry as a ligand for metal ions in catalytic systems.