Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a building block for nitrogen-containing heterocycles, including those found in certain drugs and pesticides. Commonly employed in the development of specialty chemicals due to its reactivity as a nucleophile and reducing agent. Also utilized in research settings for the synthesis of hydrazine derivatives with potential biological activity. Requires careful handling due to its instability and potential toxicity.