This compound is primarily utilized in the synthesis of various heterocyclic compounds due to its reactive hydrazide group. It serves as a key intermediate in the development of pharmaceuticals, particularly in the creation of drugs with anti-inflammatory, antimicrobial, and anticancer properties. Additionally, it is employed in organic chemistry research for constructing complex molecular structures, often contributing to the development of novel therapeutic agents. Its versatility also extends to agrochemical applications, where it aids in the design of new pesticides and herbicides.