Used primarily as an intermediate in organic synthesis, this compound plays a key role in the production of pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in creating complex molecules. It is also employed in the development of dyes and pigments due to its ability to introduce specific functional groups into aromatic systems. Additionally, it serves as a building block in the synthesis of herbicides and pesticides, contributing to crop protection strategies. Its reactivity with various reagents makes it useful in research and industrial applications aimed at developing new chemical entities.