This compound is utilized in organic synthesis as a building block or intermediate, particularly in the production of pharmaceuticals and other complex chemical structures. It serves as a reagent in chemical reactions to introduce specific functional groups or modify molecular architectures with precision. In the pharmaceutical industry, it plays a key role in developing new drugs with high efficacy and reduced side effects. Additionally, it is employed in chemical research to study reaction mechanisms and discover novel compounds with potential applications. Its solubility in various solvents and stability make it suitable for both academic and industrial settings.