This chemical is primarily utilized in organic synthesis as an intermediate for the production of more complex compounds. It is often employed in the pharmaceutical industry for the development of active pharmaceutical ingredients (APIs), particularly in the synthesis of drugs targeting neurological and inflammatory conditions. Additionally, it serves as a key building block in the creation of agrochemicals, such as herbicides and pesticides, due to its structural properties that allow for effective modification. Its role in research and development is also significant, as it aids in the study of chemical reactions and the design of novel molecules with potential therapeutic or industrial applications.