Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its structure supports the formation of nucleoside analogs, which can interfere with DNA or RNA synthesis in pathogens or tumor cells. Also employed in the preparation of agrochemicals and functional dyes due to its ability to form stable complexes and participate in hydrogen bonding. Commonly utilized in research settings for designing new heterocyclic compounds with biological activity.