This compound is primarily utilized in the synthesis of various heterocyclic compounds, which are essential in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of biologically active molecules, particularly those targeting specific enzymes or receptors. Its structure is valuable in medicinal chemistry for designing drugs with potential anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it is employed in research to explore novel chemical reactions and pathways, contributing to advancements in organic synthesis methodologies.