This compound is primarily utilized in the synthesis of various heterocyclic compounds, which are essential in pharmaceutical and agrochemical industries. It serves as a key intermediate in the production of thiazole derivatives, which are known for their biological activities, including antimicrobial, antifungal, and anti-inflammatory properties. Additionally, it is employed in the development of organic light-emitting diodes (OLEDs) due to its ability to form stable and efficient electron-transporting materials. Its role in organic synthesis also extends to the creation of complex molecules for research and industrial applications.