This compound is primarily utilized in the pharmaceutical and chemical research industries. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting therapeutic applications. Its structure is often leveraged in the development of drugs with potential anti-inflammatory, antimicrobial, or antiviral properties. Additionally, it is employed in organic synthesis to create complex heterocyclic compounds, which are valuable in medicinal chemistry for designing new drug candidates. Its versatility makes it a valuable building block in the development of novel pharmaceuticals.