Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various heterocyclic compounds. It is particularly valuable in the development of pharmaceuticals, where it contributes to the creation of complex molecular structures. Additionally, it finds application in the synthesis of agrochemicals, aiding in the development of new pesticides and herbicides. Its role in coordination chemistry is also notable, as it acts as a ligand in the formation of metal complexes, which are utilized in catalytic processes. The compound's reactivity makes it a versatile tool in research and industrial chemistry.