This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceutical agents. Its structure is particularly valuable in the development of drugs that target neurological and cardiovascular diseases. Additionally, it is employed in the creation of complex molecules for research purposes, aiding in the study of biochemical pathways and drug interactions. Its role in synthesizing heterocyclic compounds also makes it significant in the development of agrochemicals and other specialty chemicals.