This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure makes it particularly valuable in the synthesis of pharmaceuticals, especially those targeting neurological and cardiovascular conditions. Additionally, it is used in the development of agrochemicals, contributing to the creation of pesticides and herbicides. Researchers also explore its potential in material science, particularly in the design of organic electronic materials. Its versatility in chemical reactions makes it a crucial component in various industrial and research applications.