This compound is primarily utilized in the synthesis of various pharmaceuticals and agrochemicals due to its versatile chemical structure. It serves as a key intermediate in the production of thiazole derivatives, which are known for their biological activities, including antimicrobial, antifungal, and anti-inflammatory properties. Additionally, it is employed in the development of herbicides and pesticides, contributing to effective crop protection. Its role in organic synthesis also extends to the creation of complex molecules used in research and industrial applications.