This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly those targeting anti-inflammatory and analgesic properties. Its structure allows for further chemical modifications, making it valuable in the design and synthesis of novel drug candidates. Additionally, it has been explored in the study of enzyme inhibition, particularly in pathways related to inflammation and pain management. Researchers also investigate its potential in creating dyes and pigments due to its aromatic and functional group properties.