Used as a key intermediate in the synthesis of biologically active pyrrole derivatives, particularly in pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of kinase inhibitors and antimicrobial agents. Commonly employed in cross-coupling reactions, such as Suzuki or Heck reactions, to build complex heterocyclic systems for drug discovery research. Also utilized in the preparation of fluorescent probes and organic electronic materials due to the electron-rich nature of the pyrrole ring.