This chemical is primarily utilized in organic synthesis as an intermediate for the production of various pharmaceuticals and specialty chemicals. It serves as a key building block in the creation of complex molecules, particularly in the development of active pharmaceutical ingredients (APIs) for therapeutic drugs. Additionally, it finds application in the formulation of fragrances and flavors, where its unique structure contributes to the desired aromatic properties. In research and development, it is often employed in the study of reaction mechanisms and the synthesis of novel organic compounds. Its versatility makes it valuable in industries requiring precise chemical modifications and functional group transformations.