This compound finds application in the field of organic synthesis, particularly as a building block for creating more complex chemical structures. It is often utilized in the development of heterocyclic compounds, which are valuable in pharmaceuticals and agrochemicals. Additionally, it serves as a precursor in the synthesis of ligands for coordination chemistry, aiding in the creation of catalysts for various chemical reactions. Its unique structure also makes it suitable for research in material science, where it can be incorporated into polymers or coatings to impart specific properties.