This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting specific medical conditions, particularly in the creation of compounds with potential anti-inflammatory or analgesic properties. Additionally, it is employed in research and development for designing novel therapeutic agents, often serving as a building block in organic synthesis. Its structure allows for further chemical modifications, making it valuable in medicinal chemistry for optimizing drug efficacy and safety.