This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a crucial role in the production of various pharmaceutical compounds, particularly in the development of drugs targeting neurological and cardiovascular disorders. Its structure allows for further functionalization, making it valuable in the synthesis of complex molecules. Additionally, it is employed in the preparation of agrochemicals, contributing to the development of pesticides and herbicides. Its reactivity also makes it suitable for use in research laboratories for the study of chemical reactions and the development of novel organic compounds.