This compound is primarily utilized in organic synthesis as a versatile building block for the development of various pharmacologically active molecules. It serves as a key intermediate in the preparation of heterocyclic compounds, which are often explored for their potential therapeutic properties, including anticancer, antimicrobial, and anti-inflammatory activities. Additionally, it is employed in the synthesis of specialized dyes and pigments due to its ability to introduce specific functional groups into complex structures. Its reactivity with amines and other nucleophiles makes it valuable in the creation of thiourea derivatives, which are studied for their biological and chemical applications.