This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. Its structure serves as a key intermediate in the creation of biologically active molecules, often targeting enzymes or receptors involved in disease pathways. It is also employed in medicinal chemistry for the design of compounds with potential anti-inflammatory, anticancer, or antimicrobial properties. Additionally, it finds use in organic synthesis as a building block for more complex heterocyclic compounds, contributing to advancements in chemical and biological sciences.