Used in organic synthesis as a versatile building block for creating complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the preparation of compounds with potential biological activity, such as inhibitors or modulators of specific enzymes or receptors. Its structure allows for the introduction of iodine, which can be useful in radiolabeling studies for imaging or tracing purposes in medical research. Additionally, it is employed in the synthesis of heterocyclic compounds, which are often explored for their therapeutic properties.