This compound is primarily used in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly in the synthesis of compounds with potential therapeutic applications. Its structure is often utilized in the design of drugs targeting neurological disorders, inflammation, and certain types of cancers. Additionally, it plays a role in the creation of ligands for receptor binding studies, aiding in the understanding of biochemical pathways and drug-receptor interactions. Its versatility in chemical reactions makes it valuable for constructing complex organic frameworks in medicinal chemistry.