Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antidiabetic and antihypertensive drugs. Its structure allows for selective functionalization, making it valuable in constructing complex heterocyclic systems. Commonly employed in research settings for creating thiophene-based bioactive molecules and in medicinal chemistry for drug discovery. Also utilized in the preparation of kinase inhibitors and other targeted therapies due to its ability to participate in cross-coupling reactions.