Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of various pharmaceuticals. It is particularly valuable in the development of active pharmaceutical ingredients (APIs) due to its structural properties, which make it a versatile building block in medicinal chemistry. Additionally, it finds application in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides. Its role in research and development is significant, aiding in the exploration of new chemical entities and their potential therapeutic or agricultural benefits.