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 introduction of additional functional groups, making it valuable in the creation of complex molecules. It is also employed in agrochemical production, where it contributes to the development of new pesticides and herbicides. Additionally, it finds use in material science, particularly in the synthesis of organic electronic materials and ligands for catalysis. Its versatility in chemical reactions makes it a significant building block in organic synthesis.