Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its structure allows for versatile reactivity, making it valuable in the development of complex molecules, particularly in the synthesis of heterocyclic compounds. Additionally, it finds application in the preparation of agrochemicals and active pharmaceutical ingredients (APIs), where its functional groups enable precise modifications to achieve desired biological activities. Its role in research and development is significant, aiding in the exploration of new chemical entities and their potential therapeutic or industrial uses.