Used primarily in the synthesis of pharmaceuticals, this compound serves as a key intermediate in the development of various drugs. It is particularly valuable in the creation of compounds targeting specific enzymes or receptors, aiding in the treatment of diseases such as cancer or inflammatory conditions. Additionally, it finds application in agricultural chemistry, where it is utilized to develop herbicides or plant growth regulators. Its unique structure allows for precise modifications, making it a versatile building block in organic synthesis. Researchers also employ it in the study of biochemical pathways, helping to uncover new therapeutic targets.