This compound is primarily utilized in the synthesis of various pharmaceutical agents due to its structural framework, which is conducive to forming biologically active molecules. It serves as a key intermediate in the production of compounds with potential therapeutic properties, particularly in the development of anti-inflammatory, antimicrobial, and anticancer drugs. Additionally, its unique structure allows for modifications that can enhance the efficacy and specificity of the resulting drugs. Researchers also explore its use in organic synthesis to create novel heterocyclic compounds, which are valuable in medicinal chemistry for designing new drug candidates.