This compound is primarily utilized in organic synthesis as a key intermediate in the preparation of complex molecules. It is particularly valuable in the development of pharmaceuticals, where it serves as a building block for active pharmaceutical ingredients (APIs). Its structure allows for versatile reactivity, making it suitable for constructing nitrogen-containing heterocycles, which are common in drug molecules. Additionally, it is employed in the synthesis of agrochemicals and fine chemicals, contributing to the production of compounds with specific biological activities. Its role in catalysis and material science is also notable, as it can be used to create novel materials with tailored properties.