Used as a key intermediate in the synthesis of biologically active compounds, particularly in the development of pharmaceuticals with potential antimicrobial, antifungal, and anticancer properties. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for designing new drug candidates. It is also employed in the preparation of coordination complexes with metal ions, which are studied for their catalytic or biological activities. Additionally, derivatives of this compound are explored in agrochemical research for developing new pesticides and herbicides.