This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Its structure allows it to act as a building block for creating complex molecules, often used in the research and development of drugs targeting neurological and metabolic disorders. Additionally, it finds application in the preparation of ligands for catalytic systems, aiding in various chemical transformations. Its unique properties make it valuable in the study of sulfur-containing heterocycles, which are important in medicinal chemistry and material science.