This chemical is primarily used in organic synthesis as a versatile intermediate. It plays a significant role in the development of pharmaceutical compounds, particularly in the synthesis of complex molecules. Its structure allows for modifications that are crucial in creating active pharmaceutical ingredients (APIs) for various therapeutic applications. Additionally, it is employed in research settings to explore new chemical reactions and pathways, aiding in the discovery of novel drugs and bioactive compounds. Its stability and reactivity make it a valuable component in medicinal chemistry and drug development processes.