This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex chemical structures. It serves as a building block in the synthesis of various heterocyclic compounds, which are often explored for their potential pharmaceutical applications. Researchers have investigated its derivatives for their biological activities, including antimicrobial, anti-inflammatory, and anticancer properties. Additionally, it is employed in the study of novel therapeutic agents due to its unique structural features, which can be modified to enhance drug-like properties. Its role in material science is also noteworthy, as it contributes to the development of organic semiconductors and other advanced materials.