This chemical is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the preparation of various pharmaceuticals, particularly in the development of antifungal and antibacterial agents. Its structure allows for further functionalization, making it valuable in the synthesis of complex molecules. Additionally, it is employed in the production of heterocyclic compounds, which are essential in medicinal chemistry for designing drugs with specific biological activities. Its role in research and development is significant, particularly in exploring new therapeutic agents and chemical entities.