Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of kinase inhibitors for cancer treatment. Its structure allows for selective modification, making it valuable in creating compounds with high biological activity. It is also employed in agrochemical research for designing new herbicides due to its ability to interfere with plant growth regulation. The compound's stability and reactivity profile support its use in multi-step organic syntheses, especially in medicinal chemistry for optimizing drug candidates.