This compound is primarily utilized in the pharmaceutical and agrochemical industries as a key intermediate in the synthesis of more complex molecules. In pharmaceuticals, it is often employed in the development of active pharmaceutical ingredients (APIs) for drugs targeting various diseases, including cancer and inflammatory conditions. Its structure allows for the introduction of additional functional groups, making it a versatile building block in medicinal chemistry. In agrochemicals, it serves as a precursor in the production of pesticides and herbicides, contributing to the creation of compounds that enhance crop protection and yield. Its unique chemical properties also make it valuable in research and development for discovering new chemical entities with potential therapeutic or agricultural applications.