Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of antifungal and antimicrobial drugs. Its structure supports the formation of biologically active triazole derivatives, which are common in medicinal chemistry. It is also employed in the preparation of agrochemicals and functional materials due to its ability to participate in cycloaddition and coupling reactions. The ester group allows for easy modification, making it valuable in combinatorial chemistry and drug discovery research.