This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly in the synthesis of heterocyclic compounds. Its structure is advantageous for creating derivatives that exhibit potential therapeutic properties, such as anti-inflammatory, antimicrobial, or antiviral activities. Additionally, it is employed in the preparation of agrochemicals, contributing to the development of new pesticides or herbicides. Its versatility in chemical reactions makes it a valuable building block in medicinal chemistry and drug discovery processes.