Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and bioactive compounds. It is particularly valuable in the development of heterocyclic compounds, which are essential in drug discovery and medicinal chemistry. The compound's structure allows for further functionalization, making it a versatile building block in the synthesis of complex molecules. It is also employed in the research and development of potential therapeutic agents, including those targeting neurological and infectious diseases. Additionally, it finds use in the creation of ligands for catalysis and materials science applications.