This compound is primarily utilized in the field of organic synthesis as a key intermediate for the development of various pharmaceuticals and biologically active molecules. Its structure is particularly valuable in the synthesis of pyrazole derivatives, which are known for their diverse therapeutic properties, including anti-inflammatory, analgesic, and antipyretic activities. Additionally, it serves as a building block in the production of agrochemicals, contributing to the development of herbicides and pesticides. In material science, it is explored for its potential in creating organic electronic materials due to its conjugated system, which can enhance conductivity and optical properties. Its versatility makes it a significant compound in both industrial and research applications.