This compound is primarily used in the synthesis of pharmaceuticals and agrochemicals due to its role as a versatile intermediate. It is particularly valuable in the development of drugs targeting various diseases, including antiviral and antibacterial agents. Its structure allows for the creation of complex molecules that can interact with biological systems effectively. Additionally, it finds application in the production of herbicides and pesticides, contributing to crop protection and agricultural productivity. The compound's reactivity and stability make it a key component in organic synthesis, enabling the creation of diverse chemical products.