This compound is primarily utilized in the pharmaceutical and agrochemical industries. In pharmaceuticals, it serves as a key intermediate in the synthesis of various drugs, particularly those targeting specific enzymes or receptors. Its structure allows for further functionalization, making it valuable in the development of compounds with potential therapeutic effects. In agrochemicals, it is used in the production of pesticides and herbicides, where it contributes to the creation of active ingredients that help control pests and weeds effectively. Its versatility in chemical reactions makes it a crucial component in research and development for creating new and more efficient chemical agents.