This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of thiazole derivatives, which are known for their biological activities. The compound is often employed in the creation of potential drug candidates targeting specific enzymes or receptors, making it valuable in medicinal chemistry research. Additionally, it is used in the preparation of herbicides and fungicides, contributing to crop protection strategies. Its role in cross-coupling reactions also makes it a useful building block in the synthesis of complex molecules for industrial and research purposes.