Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly in the synthesis of quinolone antibiotics. It is also employed in the development of agrochemicals, where it acts as a building block for creating pesticides and herbicides. Additionally, it finds application in material science for the preparation of specialty chemicals and polymers. Its reactivity with different organic groups makes it valuable in constructing complex molecular structures in research and industrial settings.