This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of heterocyclic compounds, which are essential in designing drugs with specific biological activities. Additionally, it is employed in the synthesis of isoxazole derivatives, which are known for their potential therapeutic properties, including anti-inflammatory, antimicrobial, and anticancer effects. Researchers also explore its use in creating novel chemical entities for studying biochemical pathways and developing new therapeutic agents.