This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of compounds with potential therapeutic effects, such as those targeting neurological disorders. Additionally, it finds application in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides that help protect crops from pests and diseases. Its role in these industries underscores its importance in advancing both medical and agricultural sciences.