Primarily utilized in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for functionalization, making it valuable in the development of active pharmaceutical ingredients (APIs) and fine chemicals. Additionally, it is employed in research settings for the synthesis of novel compounds with potential therapeutic or agricultural applications. Its versatility in chemical reactions, such as coupling and cyclization, makes it a useful building block in medicinal chemistry and material science.