Used in organic synthesis as a versatile intermediate for the preparation of various heterocyclic compounds. It is particularly valuable in the development of pharmaceuticals, where it serves as a building block for active pharmaceutical ingredients (APIs). The compound is also employed in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides. Its unique structure allows for selective functionalization, making it useful in the design of complex molecules for research and industrial applications. Additionally, it plays a role in the development of dyes and pigments, offering a pathway to novel colorants.