Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and fine chemicals. It is often employed in the synthesis of active pharmaceutical ingredients (APIs) due to its versatile reactivity. Additionally, it finds application in the development of fragrances and flavors, contributing to the creation of complex aromatic compounds. Its role in research and development is significant, particularly in the study of chemical reactions and the design of new molecules with potential therapeutic or industrial uses.