Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows it to participate in reactions that form complex molecules, particularly those requiring the introduction of amide or ester functional groups. Additionally, it is employed in the development of bioactive compounds, including potential inhibitors for enzymes or receptors in medicinal chemistry research. Its versatility also makes it useful in the synthesis of dyes and other specialty chemicals.