Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of complex molecules due to its reactive oxime group, which can participate in numerous chemical transformations. Additionally, it finds application in the development of dyes and pigments, where its structural properties contribute to the desired color and stability. In research, it is utilized as a building block for creating novel compounds with potential biological activity. Its role in catalysis and material science is also noteworthy, as it aids in the development of advanced materials with specific functional properties.