Used primarily in organic synthesis, this compound serves as a key intermediate in the production of more complex molecules. Its structure makes it valuable in the development of pharmaceuticals, particularly in the creation of compounds with potential therapeutic effects. Researchers utilize it to explore new drug candidates, especially in areas like anti-inflammatory and anticancer agents. Additionally, it finds application in material science, where it contributes to the synthesis of advanced organic materials with specific electronic or optical properties. Its versatility in chemical reactions allows for modifications that can lead to the discovery of novel compounds with diverse applications.