Primarily used in pharmaceutical research, this compound serves as an intermediate in the synthesis of various drugs, particularly those targeting anti-inflammatory and analgesic properties. Its structure is beneficial in developing compounds that can interact with biological enzymes and receptors, making it valuable in medicinal chemistry. Additionally, it is explored in the development of coordination complexes for potential applications in catalysis and material science. Its unique chemical properties also make it a candidate for studying molecular interactions in biochemical pathways.