Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows it to participate in nucleophilic substitution reactions, making it valuable for constructing complex molecules. In medicinal chemistry, it is utilized to develop active pharmaceutical ingredients (APIs) with potential therapeutic applications. Additionally, it finds use in the synthesis of specialty chemicals, including fragrances and flavoring agents, due to its ability to introduce specific functional groups into target molecules. Its role in research and development is significant, particularly in exploring new chemical pathways and optimizing synthetic processes.