This compound is primarily utilized in organic synthesis, particularly in the development of pharmaceuticals and fine chemicals. It serves as a versatile intermediate in the production of various bioactive molecules, including potential drug candidates. Its structure allows for modifications that can lead to the creation of compounds with therapeutic properties, such as anti-inflammatory or antimicrobial agents. Additionally, it is employed in research settings to study reaction mechanisms and optimize synthetic pathways for complex organic molecules. Its application extends to the field of medicinal chemistry, where it aids in the design and synthesis of novel compounds for drug discovery and development.