Used in organic synthesis as a building block for pharmaceuticals and agrochemicals. It serves as a precursor for the development of various heterocyclic compounds, which are essential in drug discovery. The compound is also employed in the preparation of ligands for metal complexes used in catalysis. Additionally, it finds application in the synthesis of bioactive molecules, particularly in the creation of compounds with potential therapeutic properties. Its role in the production of fine chemicals and intermediates is significant in industrial chemistry.