This chemical is primarily utilized in the synthesis of complex organic compounds, particularly in pharmaceutical research. It serves as a key intermediate in the development of various therapeutic agents, including anti-inflammatory and anticancer drugs. Its structure allows for the introduction of functional groups that enhance the biological activity of the final compounds. Additionally, it is employed in the study of metabolic pathways and enzyme interactions, aiding in the understanding of biochemical processes. Its role in organic synthesis also extends to the production of specialty chemicals used in advanced material science.