Used primarily in organic synthesis as a versatile intermediate, it plays a crucial role in the development of pharmaceuticals, particularly in the creation of antimalarial and antibacterial agents. Its structure allows for further functionalization, making it valuable in the design of complex molecules for drug discovery. Additionally, it is employed in the synthesis of agrochemicals, contributing to the development of pesticides and herbicides. In material science, it serves as a building block for the preparation of organic electronic materials, such as light-emitting diodes (OLEDs) and semiconductors. Its unique properties also make it useful in research and development for studying chemical reactions and mechanisms.