This compound is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the production of various pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target neurological and cardiovascular conditions. Its structure allows for effective incorporation into complex molecules, making it valuable in drug development. Additionally, it is employed in the creation of specialty chemicals, including dyes and pigments, where its reactivity and functional groups contribute to desired color properties. In research, it is used as a reagent in chemical reactions to study reaction mechanisms or develop new synthetic pathways. Its applications also extend to the field of agrochemicals, where it aids in the formulation of pesticides and herbicides.