Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of active ingredients for drugs, particularly those targeting specific biological pathways. Additionally, it is employed in the synthesis of dyes and pigments, contributing to the coloration of materials in industrial applications. Its reactivity and stability under different conditions make it a versatile component in research and manufacturing processes.