Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of antifungal and anticancer agents. Its structure supports coordination with metal ions, making it useful in catalysis and in the design of bioactive molecules. Also employed in agrochemicals for the creation of plant growth regulators and pesticides due to its stability and reactivity. Additionally, it serves as a building block in heterocyclic chemistry for creating more complex triazole-based compounds with tailored biological activities.