This compound is primarily utilized in the synthesis of pharmaceuticals and agrochemicals due to its versatile chemical structure. It serves as a key intermediate in the production of various drugs, particularly those targeting infectious diseases and metabolic disorders. In the agricultural sector, it is employed in the development of herbicides and pesticides, contributing to effective crop protection. Its reactivity and functional groups make it valuable for creating complex molecules in organic synthesis, aiding in the discovery of new compounds with potential therapeutic or agricultural benefits.