Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for selective functionalization, making it valuable in building complex organic compounds. Commonly employed in research settings for developing new therapeutic agents and in the preparation of heterocyclic compounds. Also utilized in the design of enzyme inhibitors due to its ability to interact with biological targets through hydrogen bonding and ionic interactions.