This compound is primarily utilized in organic synthesis as a versatile building block. It is often employed in click chemistry reactions, particularly in the formation of oxime ethers, which are valuable intermediates in the development of pharmaceuticals and agrochemicals. The presence of the propargyl group allows for efficient coupling with azides, enabling the creation of complex molecular structures. Additionally, it finds application in the modification of biomolecules, such as proteins and peptides, for research and drug discovery purposes. Its reactivity also makes it useful in the synthesis of heterocyclic compounds, which are crucial in medicinal chemistry.