This compound is primarily utilized in the field of organic synthesis as a versatile building block for the creation of more complex molecules. It serves as a key intermediate in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties, such as anti-inflammatory or antimicrobial agents. Additionally, it finds application in the production of agrochemicals, where it contributes to the formulation of pesticides or herbicides. Its structure allows for further functionalization, making it valuable in designing specialized chemicals for research and industrial purposes.