Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate. Its structure allows for the introduction of various functional groups, making it valuable in the development of complex molecules. In pharmaceutical research, it aids in the creation of compounds with potential therapeutic effects, particularly in targeting specific enzymes or receptors. In agrochemicals, it contributes to the design of pesticides and herbicides by enhancing their efficacy and selectivity. Additionally, its reactivity is leveraged in material science for the production of specialty chemicals and advanced polymers.