This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate for the development of various biologically active compounds. It is particularly valuable in the synthesis of pharmaceutical agents, including potential drugs targeting specific enzymes or receptors. Its structure allows for further functionalization, making it a versatile building block in medicinal chemistry. Additionally, it may be employed in the creation of ligands for catalytic systems, aiding in the optimization of chemical reactions. Its applications also extend to research and development, where it is used to explore novel therapeutic pathways and chemical processes.