This compound is primarily utilized in the field of organic synthesis and chemical research. It serves as a key intermediate in the production of various pharmaceuticals, particularly in the development of anti-inflammatory and analgesic drugs. Its structure allows it to act as a precursor in the synthesis of more complex molecules, making it valuable in medicinal chemistry. Additionally, it is used in the study of enzyme inhibition and receptor binding, aiding in the discovery of new therapeutic agents. Its applications also extend to the development of agrochemicals, where it contributes to the formulation of herbicides and pesticides.