This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a crucial role in the production of various pharmaceuticals, particularly in the development of antiviral and anti-inflammatory drugs. Its structure allows it to act as a building block for more complex molecules, enabling the creation of compounds with specific biological activities. Additionally, it is employed in the synthesis of agrochemicals, contributing to the development of pesticides and herbicides. Its reactivity and functional groups make it valuable in research and industrial applications for designing and optimizing chemical processes.