This chemical is primarily utilized in the field of organic synthesis, particularly in the development of pharmaceutical compounds. It serves as a key intermediate in the production of various biologically active molecules, including potential drug candidates. Its structure is often employed in the construction of isoindoline-based frameworks, which are significant in medicinal chemistry for designing inhibitors or modulators of specific biological targets. Additionally, it can be used in the synthesis of agrochemicals and other fine chemicals, where its functional groups allow for further derivatization and customization. Its stability and reactivity make it a valuable building block in complex synthetic routes.