Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the synthesis of oxime ethers, which are important in the development of drugs with antimicrobial and anti-inflammatory properties. Additionally, it plays a role in the preparation of coordination complexes for catalytic applications, aiding in chemical reactions like oxidation and reduction processes. Its utility extends to research and development, where it is employed in studying reaction mechanisms and developing new synthetic pathways.