This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the development of pharmaceuticals, particularly in the synthesis of biologically active molecules. Its structure is often exploited in the creation of compounds with potential therapeutic properties, such as anti-inflammatory or anticancer agents. Additionally, it serves as a building block in the preparation of complex organic frameworks, contributing to advancements in medicinal chemistry and drug discovery. Researchers also use it in the study of chemical reactions and mechanisms, aiding in the development of novel synthetic methodologies.