Used primarily as an intermediate in organic synthesis, particularly in the production of specialty chemicals and pharmaceuticals. It serves as a building block for synthesizing heterocyclic compounds and can be employed in the development of chiral catalysts due to its structural features. Its keto-enol tautomerism makes it useful in studies involving reaction mechanisms and stereochemistry. Additionally, it finds application in the formulation of certain resins and functional polymers where controlled reactivity and solubility are required.