This compound is widely utilized as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs containing pyrrole structures. Its reactive functional groups make it a valuable building block for constructing complex molecules with potential biological activity. It is also employed in organic synthesis for creating heterocyclic compounds, which are essential in the production of dyes, agrochemicals, and other specialty chemicals. Additionally, its unique structure makes it a candidate for research in material science, particularly in the development of organic electronic materials.