This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. It serves as a building block in the preparation of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Its structure is valuable in medicinal chemistry for designing molecules that target specific biological pathways. Additionally, it finds application in material science, where it is used to create specialized polymers or organic electronic materials. Researchers also employ it in the study of chemical reactions and mechanisms due to its reactive functional groups.