Used primarily in organic synthesis, it serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting metabolic and inflammatory disorders. Its structure is valuable in creating heterocyclic compounds, which are essential in medicinal chemistry. Additionally, it is employed in agrochemical research for designing pesticides and herbicides due to its bioactive properties. The compound is also utilized in coordination chemistry to synthesize metal complexes for catalytic applications. Its versatility makes it a significant component in various industrial and research processes.