This chemical is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active compounds. Its structure is particularly valuable in the creation of molecules that target specific enzymes or receptors, making it a crucial component in the design of potential drugs for treating diseases such as cancer, inflammation, and neurological disorders. Additionally, it is employed in the development of agrochemicals, where it contributes to the creation of new pesticides or herbicides with improved efficacy and selectivity. Its versatility in organic synthesis also makes it a useful building block in the production of other specialty chemicals.