Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in creating compounds that target specific enzymes or receptors, making it useful in drug discovery for conditions like neurological disorders or infectious diseases. Additionally, it may be employed in the preparation of agrochemicals, contributing to the development of new pesticides or herbicides. Its reactivity and functional groups allow for further chemical modifications, enabling the creation of diverse derivatives for screening and optimization in medicinal chemistry.