Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of compounds with potential therapeutic effects, such as analgesics and anti-inflammatory agents. Additionally, it finds application in the creation of agrochemicals, including pesticides and herbicides, due to its chemical structure that can be modified to target specific biological pathways. In research settings, it is utilized to study reaction mechanisms and to develop new synthetic routes for complex molecules. Its versatility in chemical reactions makes it a useful building block in the synthesis of diverse organic compounds.