Used primarily in organic synthesis, this compound serves as a key reagent in the preparation of various hydrazide derivatives. It is particularly valuable in the development of pharmaceuticals, where it acts as an intermediate in the synthesis of active pharmaceutical ingredients (APIs). Additionally, it finds application in the production of agrochemicals, contributing to the creation of herbicides and pesticides. Its role in the synthesis of biologically active molecules makes it significant in medicinal chemistry research, aiding in the discovery of new therapeutic agents.