This compound is primarily utilized in organic synthesis as an intermediate for the production of more complex molecules. It is often employed in the pharmaceutical industry for the development of active pharmaceutical ingredients (APIs), particularly in the synthesis of compounds with potential therapeutic properties. Additionally, it serves as a building block in the creation of agrochemicals, such as herbicides and pesticides, due to its structural versatility. In research settings, it is used to study chemical reactions and mechanisms, aiding in the discovery of new chemical entities. Its specific functional groups make it valuable for modifications and derivatization in various chemical processes.