This compound is primarily utilized in organic synthesis as an intermediate for the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to the presence of functional groups that allow for further chemical modifications. It is often employed in the synthesis of heterocyclic compounds, which are crucial in drug discovery and development. Additionally, its reactivity makes it suitable for constructing complex molecular frameworks, contributing to advancements in medicinal chemistry and crop protection agents.