This compound is primarily utilized in organic synthesis as a key intermediate for the development of various pharmaceuticals and bioactive molecules. Its structure is particularly valuable in the synthesis of heterocyclic compounds, which are often explored for their potential therapeutic properties. Researchers employ it in the design of drug candidates targeting neurological disorders, inflammation, and certain types of cancers due to its versatile reactivity and ability to form complex structures. Additionally, it is used in the preparation of ligands for metal-catalyzed reactions, aiding in the development of novel catalytic processes in chemical research. Its application extends to material science, where it contributes to the synthesis of organic electronic materials and dyes.