Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of herbicides and plant growth regulators. It plays a role in the production of certain agrochemicals due to its ability to mimic or interfere with plant hormone activity. Its structure is valuable in creating compounds with selective biological activity, especially in crop protection products. Additionally, it serves as a building block in medicinal chemistry for designing new bioactive molecules, including potential anti-inflammatory and antimicrobial agents.