This chemical is primarily used in the synthesis of pharmaceuticals and agrochemicals. It serves as an intermediate in the production of compounds with potential therapeutic properties, such as inhibitors for specific enzymes or receptors. Its structure allows for further modification, making it valuable in the development of new drugs targeting various diseases. Additionally, it can be employed in the creation of agricultural chemicals, including pesticides or herbicides, where its functional groups contribute to the desired biological activity. The compound's versatility in chemical reactions makes it a useful building block in organic synthesis for research and industrial applications.