Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It serves in the preparation of certain herbicides due to its ability to mimic plant growth regulators. Its structure allows for further functionalization, making it valuable in creating active ingredients in crop protection products. Additionally, it has been explored in the development of bioactive molecules with potential antifungal and antibacterial properties. The compound's reactivity and stability under various conditions make it suitable for use in multi-step organic syntheses.