This chemical is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the preparation of various pharmaceutical compounds, particularly those targeting enzyme inhibition or receptor modulation. Its structure allows for further functionalization, making it valuable in the development of heterocyclic compounds with potential biological activity. Additionally, it is employed in the synthesis of ligands for catalysis and coordination chemistry, aiding in the creation of complex molecules for industrial and research applications. Its role in the production of fine chemicals and specialty materials also highlights its importance in advanced chemical manufacturing.