This compound is primarily used in organic synthesis as a building block for the preparation of various heterocyclic compounds. It serves as a key intermediate in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target specific diseases. Additionally, it is utilized in the creation of agrochemicals, contributing to the development of pesticides and herbicides that protect crops from pests and weeds. Its role in research and development is significant, as it aids in the exploration of new chemical entities with potential therapeutic or agricultural benefits.