Used primarily as an intermediate in organic synthesis, this compound plays a key role in the development of pharmaceuticals and biologically active molecules. Its structure supports the construction of nitrogen-containing heterocycles, which are common in drug design. It is particularly valuable in the preparation of potential central nervous system agents and kinase inhibitors due to its ability to engage in ring-forming reactions and functional group transformations. Additionally, it serves as a building block in the synthesis of fused polycyclic systems for use in medicinal chemistry research.