This compound is primarily utilized in organic synthesis as an intermediate for the production of various pharmaceuticals and agrochemicals. Its structure makes it valuable in the development of compounds with potential biological activity, particularly in the creation of inhibitors targeting specific enzymes or receptors. Additionally, it can be employed in the synthesis of heterocyclic compounds, which are often explored for their therapeutic properties. Its role in research and development is significant, particularly in the design of new drug candidates or bioactive molecules.