This chemical is primarily utilized in organic synthesis as a key intermediate for the development of more complex compounds. It is often employed in pharmaceutical research to create molecules with potential therapeutic properties, particularly in the design of drugs targeting neurological disorders or infections. Additionally, it serves as a building block in the synthesis of agrochemicals, contributing to the development of pesticides or herbicides. Its structure allows for further functionalization, making it valuable in material science for creating specialized polymers or coatings.