This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex chemical structures. Its functional groups make it a versatile building block for synthesizing pharmaceuticals, particularly those targeting neurological and cardiovascular diseases. Additionally, it is employed in the development of agrochemicals, contributing to the creation of pesticides and herbicides with enhanced efficacy. The compound’s stability and reactivity also make it valuable in research settings for studying reaction mechanisms and developing new synthetic pathways.