This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It plays a significant role in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) due to its structural similarity to compounds known for their anti-inflammatory and analgesic properties. Additionally, it is explored in research for its potential application in designing enzyme inhibitors, particularly those targeting cyclooxygenase (COX) enzymes, which are involved in inflammation and pain pathways. Its unique structure also makes it a candidate for further studies in drug discovery and optimization processes.