Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) with anti-inflammatory and analgesic properties. Its structure supports the construction of heterocyclic compounds that are common in drug design. Also employed in agrochemicals for creating novel pesticides and herbicides due to its stability and reactivity. Serves as a building block in organic electronics and materials science, especially in the development of conductive polymers and organic semiconductors. Frequently utilized in research laboratories for derivatization reactions to explore new bioactive molecules.