Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure allows for the creation of molecules with potential therapeutic properties, particularly in the fields of oncology and neurology. Additionally, it is employed in the development of agrochemicals, contributing to the formulation of new pesticides and herbicides. The compound's reactivity and functional groups make it valuable in organic synthesis, enabling the construction of complex chemical entities.