This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly those targeting neurological and metabolic disorders. Its structural features make it suitable for constructing complex frameworks in drug discovery, often enhancing the efficacy and selectivity of potential therapeutic agents. Additionally, it is employed in the synthesis of specialized polymers and coatings, contributing to material science advancements. Its stability and reactivity also make it valuable in catalytic processes and fine chemical production.