This chemical is primarily utilized in the synthesis of pharmaceuticals and agrochemicals due to its functional groups that allow for versatile chemical reactions. It serves as a key intermediate in the production of compounds with potential biological activity, particularly in the development of drugs targeting specific enzymes or receptors. Additionally, it is employed in research settings for the creation of novel heterocyclic compounds, which are often explored for their medicinal properties. Its structure makes it a valuable building block in organic synthesis, enabling the construction of complex molecules for various industrial and scientific applications.