This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the preparation of heterocyclic compounds, particularly pyridine derivatives, which are crucial in the development of pharmaceuticals and agrochemicals. Its structure allows it to act as a building block for creating complex molecules with potential biological activity. Additionally, it is used in coordination chemistry to form metal complexes, which can be applied in catalysis or material science. Its diketone functionality makes it valuable in reactions like cyclizations and condensations, contributing to the synthesis of various organic frameworks.