This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly in the development of antifungal and antimicrobial agents. Its structure allows it to act as a key intermediate in the production of hydrazide derivatives, which are often explored for their bioactive properties. Additionally, it finds application in organic chemistry research as a building block for the creation of more complex molecules, especially those involving hydrazine and acetyl functional groups. Its reactivity with other organic compounds makes it valuable in the study of chemical reactions and the development of new drugs or therapeutic agents.