Used primarily in organic synthesis as an intermediate for the production of more complex chemical compounds. It is also employed in the development of pharmaceuticals, particularly in the creation of active ingredients for medications. Additionally, it serves as a reagent in biochemical research for studying enzyme interactions and metabolic pathways. Its unique structure makes it valuable in the synthesis of dyes and pigments for industrial applications. Furthermore, it can be utilized in the preparation of specialty chemicals used in analytical chemistry for detection and quantification purposes.