This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the production of various heterocyclic compounds. Its structure makes it particularly valuable in the development of pharmaceuticals, especially in the synthesis of molecules with potential biological activity. Researchers often employ it to create novel drug candidates, particularly those targeting neurological and inflammatory disorders. Additionally, it is used in the preparation of agrochemicals, contributing to the development of new pesticides and herbicides. Its reactivity and functional groups allow for further modifications, making it a key building block in medicinal chemistry and material science.