Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its unique structure allows it to act as a precursor for various heterocyclic compounds, which are essential in drug discovery. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides. Its role in biochemical research includes studying enzyme inhibition and protein interactions, aiding in the understanding of metabolic pathways. The compound’s stability and reactivity make it valuable in industrial applications, such as the manufacture of specialty chemicals and polymers.