This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in creating compounds with potential therapeutic properties, such as antitumor, antiviral, and antimicrobial agents. Additionally, it serves as a building block in the preparation of heterocyclic compounds, which are essential in medicinal chemistry for designing drugs targeting specific biological pathways. Its applications also extend to material science, where it can be used in the development of organic electronic materials due to its unique chemical properties.