This chemical is primarily utilized in the synthesis of various pharmaceutical compounds and agrochemicals. It serves as a key intermediate in the production of active ingredients for medications, particularly those targeting neurological and cardiovascular conditions. Its structure allows it to participate in reactions that form complex molecules with therapeutic properties. Additionally, it is employed in the development of herbicides and pesticides, contributing to the control of weeds and pests in agricultural settings. The compound's reactivity and functional groups make it valuable in organic synthesis, enabling the creation of diverse chemical entities for research and industrial applications.