Used primarily in the pharmaceutical industry, this compound serves as an intermediate in the synthesis of various drugs. It plays a crucial role in the development of medications targeting specific diseases, particularly in the creation of compounds with potential therapeutic effects. Additionally, it is utilized in research settings for studying biochemical pathways and developing new chemical entities with improved efficacy and safety profiles. Its application extends to the field of organic chemistry, where it is employed in the preparation of complex molecules for further investigation and use in medicinal chemistry projects.