Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of hydrazide derivatives, which are often explored for their potential biological activities, including antimicrobial and antitumor properties. Additionally, it is employed in the synthesis of heterocyclic compounds, which are widely used in medicinal chemistry for drug discovery and development. Its role in creating complex molecular structures makes it a crucial reagent in research and industrial applications.