This compound is primarily utilized in the synthesis of various organic intermediates, particularly in the production of dyes and pigments. Its structure allows it to serve as a building block for creating complex molecules, especially in the development of heterocyclic compounds. Additionally, it finds application in the pharmaceutical industry, where it is used in the preparation of certain active pharmaceutical ingredients (APIs) due to its ability to introduce specific functional groups into drug molecules. Its role in research and development is also notable, particularly in the study of chemical reactions and the creation of novel compounds with potential industrial or medicinal uses.