This chemical is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of compounds with potential biological activity. It is often employed in research settings to explore new therapeutic agents, particularly in the fields of central nervous system disorders and anti-inflammatory drugs. Additionally, it serves as a building block in the synthesis of complex organic molecules, contributing to advancements in medicinal chemistry and material science.