Used primarily in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various drugs. Its structure is particularly valuable in the development of antiviral and anticancer medications, where it helps in the creation of molecules that can effectively target specific cellular processes. Additionally, it finds application in agricultural chemistry, contributing to the formulation of pesticides that protect crops from harmful pests and diseases. Its versatility also extends to research laboratories, where it is utilized in the study of biochemical pathways and the development of new therapeutic agents.