This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs). It plays a crucial role in the production of medications designed to reduce inflammation, alleviate pain, and manage fever. Its structure allows it to be a key building block for developing more complex molecules that target cyclooxygenase enzymes, which are involved in the inflammatory response. Additionally, it is explored in research for potential applications in designing novel therapeutic agents with improved efficacy and reduced side effects.