Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders and anti-inflammatory agents. Its functional group allows for easy modification, making it valuable in creating biologically active molecules. Commonly employed in medicinal chemistry for building blocks in heterocyclic compounds, especially those involving thiophene rings, which are prevalent in many drug candidates. Also utilized in agrochemical research for designing new pesticides and herbicides due to its stability and reactivity profile.