This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmacologically active molecules. Its structure is particularly valuable in the development of herbicides and fungicides, offering effective control over a wide range of plant diseases and unwanted vegetation. Additionally, it plays a role in the synthesis of compounds with potential applications in medicinal chemistry, including the development of drugs targeting neurological disorders. Its versatility and reactivity make it a crucial component in the creation of complex chemical entities for agricultural and pharmaceutical industries.