Used primarily 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 reactions that form complex molecules, particularly in the development of active ingredients for medications. Additionally, it is employed in the synthesis of dyes and pigments due to its ability to introduce functional groups that enhance color properties. In research, it is utilized to study reaction mechanisms and develop new synthetic pathways. Its applications are often centered around its reactivity and ability to act as a building block in multi-step chemical processes.