Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for the introduction of functional groups, making it valuable in the development of active ingredients for drugs targeting specific biological pathways. Additionally, it is employed in the synthesis of complex molecules for research purposes, aiding in the discovery of new therapeutic agents and chemical entities. Its role in creating derivatives with potential biological activity makes it a significant component in medicinal chemistry and drug development processes.