This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceutical compounds. Its structure is particularly valuable in the development of drugs that target specific biological pathways, such as inhibitors for enzymes or receptors involved in disease processes. Additionally, it finds application in the synthesis of heterocyclic compounds, which are often explored for their potential therapeutic properties, including anticancer, antiviral, and antimicrobial activities. Researchers also use it in the preparation of fluorescent dyes and other specialized chemicals for biochemical studies. Its versatility makes it a valuable building block in medicinal chemistry and material science research.