Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is valuable in the development of compounds with potential biological activity, such as antimicrobial or antifungal agents. Additionally, it is utilized in the preparation of ligands for catalysis, particularly in metal-catalyzed reactions, enhancing efficiency and selectivity. Its role in the synthesis of complex molecules makes it a crucial component in research and industrial applications.