This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its unique structure makes it valuable in the development of drugs targeting specific enzymes or receptors, particularly in the treatment of diseases like cancer, inflammation, and microbial infections. Researchers often modify its core framework to enhance bioactivity, selectivity, and pharmacokinetic properties, making it a versatile building block for drug discovery. Additionally, its derivatives are explored for their potential as kinase inhibitors, which play a crucial role in regulating cellular processes and signaling pathways.