This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a crucial role in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target neurological and cardiovascular disorders. Its structure allows for further functionalization, making it valuable in creating complex molecules for drug discovery. Additionally, it is used in agrochemical research to develop new pesticides and herbicides, contributing to enhanced crop protection. Its application extends to material science, where it aids in the synthesis of advanced polymers and specialty chemicals with unique properties.