This chemical is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active compounds, particularly those targeting specific enzymes or receptors in the body. Its structure is often leveraged to develop potential drug candidates for treating conditions such as inflammation, cancer, or neurological disorders. Additionally, it may be employed in the creation of fluorescent probes or imaging agents, aiding in the study of cellular processes and disease mechanisms. Its versatility makes it a valuable tool in medicinal chemistry and drug discovery efforts.