Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the creation of antiviral and anticancer agents, where its structural framework is utilized to design compounds that can target specific enzymes or receptors. Additionally, it finds application in the production of agrochemicals, contributing to the development of herbicides and pesticides. Its role in organic synthesis also extends to the creation of dyes and other specialty chemicals, highlighting its versatility in industrial applications.