This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting specific enzymes or receptors. Its structure makes it valuable in the creation of potential drug candidates for treating diseases such as cancer, viral infections, and inflammatory conditions. Additionally, it is employed in organic chemistry studies to explore novel reactions and pathways, contributing to advancements in medicinal chemistry. Its applications also extend to the development of fluorescent probes and imaging agents used in biochemical research.