Used primarily in organic synthesis, this compound serves as a versatile intermediate for the production of various pharmaceuticals and fine chemicals. Its structure allows it to participate in reactions such as cycloadditions and nucleophilic additions, making it valuable in the development of complex molecular architectures. Additionally, it is employed in the synthesis of fragrances and flavoring agents due to its ability to form aromatic compounds. In research, it is utilized to study reaction mechanisms and develop new synthetic methodologies.