Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of hydrazine derivatives, which are often employed in the development of drugs targeting cancer, inflammation, and central nervous system disorders. Additionally, it finds application in the production of herbicides and pesticides, where its hydrazine moiety plays a crucial role in the biological activity of the final products. Its versatility in chemical reactions, such as coupling and condensation, makes it a useful reagent in research and industrial settings for creating complex molecules.