This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the preparation of various heterocyclic compounds, which are essential in the development of pharmaceuticals. Its structure is particularly valuable in the synthesis of benzodiazepine derivatives, which are widely used in medicinal chemistry for their anxiolytic, sedative, and muscle relaxant properties. Additionally, it serves as a key building block in the production of agrochemicals, contributing to the development of pesticides and herbicides. Its application extends to material science, where it is used in the creation of specialized polymers and coatings.