This compound is primarily utilized in the field of organic synthesis as a key intermediate for the development of more complex chemical structures. It serves as a building block in the production of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic applications. Additionally, it is employed in the research and development of agrochemicals, where it may contribute to the creation of new pesticides or herbicides. Its unique structure allows for modifications that can lead to the discovery of compounds with specific biological activities, making it valuable in medicinal chemistry and drug discovery processes.