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 bioactive molecules, including potential drugs targeting specific enzymes or receptors. Its structure is advantageous for creating derivatives that can be tested for various therapeutic properties, such as anti-inflammatory or anticancer activities. Additionally, it is used in academic and industrial laboratories for studying chemical reactions and mechanisms, contributing to advancements in organic chemistry and medicinal chemistry.