This compound is primarily utilized in the synthesis of various pharmaceutical intermediates. It serves as a key building block in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other therapeutic agents. Its structure allows for modifications that enhance drug efficacy and bioavailability. Additionally, it is employed in research settings to study metabolic pathways and enzyme interactions, contributing to the development of new medications. In industrial applications, it is sometimes used in the formulation of specialty chemicals and fine chemicals for advanced material synthesis.