This chemical is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug compounds. Its structure makes it a valuable intermediate for creating molecules with potential therapeutic properties, such as inhibitors for specific enzymes or receptors. It is often explored in the design of drugs targeting neurological disorders, cancer, and inflammatory conditions due to its ability to interact with biological targets effectively. Additionally, it serves as a building block in organic chemistry for constructing complex heterocyclic compounds, which are essential in medicinal chemistry and drug discovery processes.