This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of drugs targeting neurological and cardiovascular conditions. Its structure allows it to act as a building block for creating more complex molecules with therapeutic potential. In research, it is often employed in the design of enzyme inhibitors, leveraging its functional groups to interact with biological targets. Additionally, it finds use in organic chemistry as a reagent for constructing heterocyclic compounds, which are essential in medicinal chemistry. Its applications are largely confined to laboratory settings, focusing on drug discovery and development processes.