This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research due to its potential biological activity. It is often explored for its role as an intermediate in the synthesis of more complex molecules, particularly those targeting specific enzymes or receptors in therapeutic applications. Researchers investigate its derivatives for anti-inflammatory, analgesic, or antimicrobial properties, making it valuable in the development of new drugs. Additionally, its structural features allow it to serve as a building block in organic synthesis, contributing to the creation of novel compounds with potential industrial or biomedical significance.