This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the development of more complex chemical structures. Its application is particularly significant in the pharmaceutical industry, where it is used to synthesize active pharmaceutical ingredients (APIs) that are crucial for various therapeutic drugs. Additionally, it finds use in the research and development of new chemical entities, aiding in the discovery of novel compounds with potential medicinal properties. Its role in these processes underscores its importance in advancing both chemical and pharmacological sciences.