Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of biologically active molecules, including potential drug candidates targeting specific enzymes or receptors. Its structure allows for further functionalization, making it a versatile building block in medicinal chemistry. Additionally, it may be employed in the synthesis of agrochemicals, contributing to the creation of new pesticides or herbicides. Researchers also utilize it in the study of chemical reactions and mechanisms, aiding in the advancement of synthetic methodologies.