This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure makes it valuable for the development of biologically active molecules, particularly those targeting neurological and cardiovascular disorders. Additionally, it is employed in the synthesis of heterocyclic compounds, which are essential in medicinal chemistry for creating drugs with specific therapeutic effects. Its applications also extend to research and development, where it is used to explore new chemical pathways and optimize drug formulations.