This compound is primarily used in organic synthesis and pharmaceutical research due to its unique structure, which combines furan and pyrazole moieties. It serves as a key intermediate in the development of biologically active molecules, particularly in the design of drugs targeting inflammation, cancer, and microbial infections. Its carboxylic acid group allows for further functionalization, making it versatile in creating derivatives with potential therapeutic properties. Additionally, it is explored in material science for synthesizing novel organic compounds with specific electronic or optical properties.