This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmacologically active compounds. It is particularly valuable in the development of pharmaceuticals, including potential drugs targeting neurological and inflammatory conditions. Its structure allows it to act as a building block for creating more complex molecules, making it essential in medicinal chemistry research. Additionally, it may be employed in the synthesis of agrochemicals, contributing to the development of new pesticides or herbicides. Its role in these applications underscores its importance in advancing both healthcare and agricultural industries.