This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of various heterocyclic compounds. It serves as a building block in the development of pharmaceuticals, particularly in the synthesis of potential drug candidates targeting neurological disorders and inflammation. Additionally, it is employed in the creation of organic materials, such as dyes and pigments, due to its ability to form stable and complex structures. Its aldehyde group makes it a versatile reagent for further functionalization, enabling the production of more complex molecules for research and industrial applications.