This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile building block for the development of more complex chemical structures. It is particularly valued in the pharmaceutical industry for its role in the synthesis of various bioactive molecules, including potential drug candidates. Additionally, it finds application in the creation of agrochemicals, where it contributes to the development of new pesticides and herbicides. Its unique structure allows it to act as an intermediate in the production of heterocyclic compounds, which are essential in many industrial and research applications.