Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of heterocyclic compounds, which are essential in drug design due to their diverse biological activities. Additionally, it is employed in the synthesis of flavoring agents and fragrances, contributing to the creation of unique sensory profiles in food and cosmetic products. Its reactivity and structural properties make it a versatile building block in chemical research and industrial applications.