This chemical is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate. It is particularly valuable in the construction of complex molecular architectures, often employed in the development of pharmaceuticals and agrochemicals. Its unique structure allows it to participate in various reactions, such as cyclizations and cross-coupling processes, making it a key component in the synthesis of biologically active compounds. Additionally, it is used in material science for the modification of polymers, enhancing their properties for specific applications. Its role in catalysis is also noteworthy, as it can act as a precursor for catalysts used in asymmetric synthesis, contributing to the production of enantiomerically pure substances.