This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a crucial role in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) where its structure can be modified to create complex molecules. Additionally, it is employed in the production of specialty chemicals, including catalysts and ligands, which are essential in various chemical reactions. Its application extends to the field of agrochemicals, where it is used to develop compounds that enhance crop protection and yield. The compound’s unique structure also makes it valuable in research and development for exploring new chemical entities with potential therapeutic or industrial applications.