Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various pharmaceuticals and agrochemicals. It is often employed in the development of active ingredients for medications, particularly those targeting specific biochemical pathways. Additionally, it finds application in the synthesis of dyes and pigments, contributing to the vibrant colors in textiles and industrial materials. Its reactivity and functional groups make it a valuable building block in creating complex molecules for research and industrial purposes.