This compound is commonly utilized in organic synthesis as a key intermediate for the production of various chemicals, including pharmaceuticals and agrochemicals. Its structure allows it to participate in reactions that form more complex molecules, making it valuable in the development of active ingredients for drugs and pesticides. Additionally, it can be used in the synthesis of heterocyclic compounds, which are important in medicinal chemistry for their biological activity. Its role in facilitating specific chemical transformations highlights its importance in industrial and research applications.