This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmacologically active molecules. Its structure is particularly valuable in the development of compounds with potential anti-inflammatory, antimicrobial, and anticancer properties. Additionally, it is employed in the synthesis of complex heterocyclic compounds, which are often explored for their therapeutic applications. Researchers also study its derivatives for their potential use in creating novel materials with specific electronic or photonic properties.