Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various pharmaceuticals. It is particularly valuable in the synthesis of heterocyclic compounds, which are essential in developing drugs with antibacterial, antifungal, and anti-inflammatory properties. Additionally, it serves as a building block in the creation of complex organic molecules used in agrochemicals, contributing to the development of pesticides and herbicides. Its reactivity with different chemical groups makes it a versatile component in research and industrial chemistry, aiding in the exploration of new chemical reactions and processes.