Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antihypertensive drugs and kinase inhibitors. It serves as a building block in agrochemicals for developing herbicides and plant growth regulators. Its aldehyde group allows for easy functionalization, making it valuable in medicinal chemistry for creating diverse compound libraries. Also employed in the preparation of ligands for catalysis and in the development of fluorescent probes due to its ability to form conjugated systems.