Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of hydrazide-based compounds, which are often utilized as building blocks for more complex molecules. Its application extends to the synthesis of heterocyclic compounds, which are essential in drug discovery and development. Additionally, it finds use in research laboratories for studying reaction mechanisms and developing new synthetic routes. Its role in creating biologically active molecules makes it significant in medicinal chemistry.