This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmacologically active molecules. Its unique structure makes it valuable for constructing complex heterocyclic compounds, which are often found in drugs targeting inflammation, microbial infections, and other therapeutic areas. Additionally, it is explored in the development of agrochemicals, particularly in creating novel pesticides and herbicides due to its ability to interact with biological systems effectively. Researchers also investigate its potential in material science, particularly in designing organic semiconductors and advanced polymers with specific electronic properties. Its versatility and reactivity make it a crucial component in both industrial and academic research settings.