This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. It is particularly valuable in the development of pharmaceuticals, where it is used to create compounds with potential therapeutic properties. Researchers often employ it in the synthesis of heterocyclic compounds, which are crucial in drug discovery due to their diverse biological activities. Additionally, it finds application in material science, where it contributes to the creation of novel organic materials with specific electronic or optical properties. Its unique structure allows it to participate in various chemical reactions, making it a versatile building block in synthetic chemistry.