This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of compounds with potential therapeutic effects, such as inhibitors for specific enzymes or receptors. Researchers often employ it in the synthesis of heterocyclic compounds, which are crucial in drug discovery due to their diverse biological activities. Additionally, it finds application in the creation of advanced materials, where its unique chemical properties contribute to the development of novel polymers or coatings with specialized functions. Its role in these areas underscores its importance in both medicinal chemistry and material science.