This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the production of various pharmaceuticals, particularly in the synthesis of complex molecules with potential therapeutic properties. Its structure allows it to participate in reactions such as nucleophilic additions and cyclizations, making it valuable for constructing heterocyclic compounds. Additionally, it is employed in the development of agrochemicals, where it contributes to the creation of active ingredients for crop protection. Its application extends to research and development in fine chemicals, aiding in the exploration of new chemical entities and materials.