This chemical is primarily utilized in the field of organic synthesis as a versatile intermediate. It plays a crucial role in the preparation of pharmaceuticals, particularly in the development of compounds with potential therapeutic effects. Its structure allows for further functionalization, making it valuable in constructing complex molecules. Additionally, it is employed in research settings to study chemical reactions and mechanisms, contributing to advancements in medicinal chemistry and drug discovery. Its stability and reactivity make it a preferred choice for synthesizing biologically active compounds.