This compound is widely used in the synthesis of pharmaceuticals and agrochemicals due to its versatile reactivity. It serves as a key intermediate in the production of various biologically active molecules, particularly in the development of antifungal and antibacterial agents. Additionally, it is employed in organic synthesis to create complex heterocyclic compounds, which are essential in material science for designing advanced polymers and electronic materials. Its unique structure makes it valuable in the preparation of dyes and pigments as well.