Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure allows for further functionalization, making it valuable in the creation of potential drug candidates, particularly in the fields of oncology and antiviral therapies. Additionally, it is employed in the preparation of agrochemicals, aiding in the development of new pesticides and herbicides. Its reactivity and versatility make it a crucial component in organic synthesis and medicinal chemistry.