Widely used in pharmaceutical development, this compound serves as a key intermediate in synthesizing bioactive molecules with antimicrobial, antifungal, and anti-inflammatory properties. Its structure supports the design of heterocyclic compounds that enhance drug stability and target specificity. It is also employed in agrochemicals to develop pesticides and herbicides due to its ability to modulate biological activity in pest organisms. In materials science, derivatives of this compound contribute to the development of corrosion inhibitors and functional organic materials.