This compound is primarily utilized in organic synthesis as a versatile building block for the preparation of various heterocyclic compounds. It serves as a key intermediate in the synthesis of thiazole derivatives, which are important in the development of pharmaceuticals and agrochemicals. Its reactive functional groups allow for further modifications, making it valuable in the creation of complex molecules. Additionally, it finds application in the research and development of new chemical entities with potential biological activities, particularly in the fields of medicinal chemistry and drug discovery.