This chemical is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the preparation of various complex molecules, particularly in the development of pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the synthesis of heterocyclic compounds, which are often found in active pharmaceutical ingredients. Additionally, it is employed in research and development for exploring new chemical reactions and pathways, contributing to advancements in medicinal chemistry and material science.