This compound is primarily utilized in the synthesis of agrochemicals, particularly in the development of herbicides and pesticides. Its structure allows it to act as a key intermediate in creating active ingredients that target specific weeds or pests, enhancing crop protection and yield. Additionally, it is explored in pharmaceutical research for its potential in designing bioactive molecules, particularly in the development of drugs targeting neurological or metabolic disorders. Its versatility in chemical reactions makes it a valuable building block in organic synthesis for various industrial applications.