Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of compounds targeting neurological disorders, where its structure aids in creating molecules that interact with specific receptors in the brain. Additionally, it finds application in the production of agrochemicals, contributing to the creation of pesticides and herbicides that protect crops from pests and diseases. Its role in organic synthesis also extends to the preparation of complex thiophene derivatives, which are utilized in material science for the development of organic semiconductors and conductive polymers.