Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of heterocyclic compounds, which are essential in creating drugs with antibacterial, antifungal, and anticancer properties. Additionally, it is employed in research to synthesize novel chemical entities for potential therapeutic applications. Its role in the synthesis of complex molecules makes it a crucial component in medicinal chemistry and drug discovery processes.