This compound is primarily utilized in organic synthesis as a building block for the creation of various heterocyclic compounds. It serves as a key intermediate in the preparation of pharmaceuticals, particularly in the development of drugs with potential anti-inflammatory, antimicrobial, and anticancer properties. Additionally, it is employed in the synthesis of agrochemicals, contributing to the production of pesticides and herbicides. Its hydrazide functional group makes it a valuable reagent in the formation of hydrazones, which are useful in analytical chemistry for the detection and quantification of carbonyl compounds. The compound's versatility in chemical reactions also extends to its use in material science, where it aids in the development of novel polymers and coatings.