This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive molecules. Its structure makes it a valuable building block for developing compounds with potential therapeutic applications, particularly in the field of oncology and neurology. Researchers explore its derivatives for their ability to modulate specific biological targets, such as enzymes or receptors, which can lead to the development of new drugs for treating diseases like cancer or neurodegenerative disorders. Additionally, it finds use in organic synthesis for constructing complex heterocyclic frameworks, which are essential in medicinal chemistry and drug discovery. Its versatility and reactivity make it a crucial component in the design and optimization of novel pharmaceutical agents.