Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate. It is particularly valuable in the production of active ingredients for medications targeting various diseases, including cancer and infections. In agrochemicals, it contributes to the development of herbicides and pesticides, enhancing their efficacy. Its unique structure allows for further chemical modifications, making it versatile in organic synthesis. Additionally, it is employed in research and development for creating novel compounds with potential therapeutic or agricultural benefits.