This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the preparation of complex molecules, particularly in the development of pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in constructing heterocyclic compounds, which are often key components in active pharmaceutical ingredients. Additionally, it is employed in research settings to study reaction mechanisms and develop new synthetic pathways. Its stability and reactivity make it a useful building block in the creation of biologically active compounds.