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 in the creation of potential drug candidates. Its structure is valuable in the design of molecules that target specific enzymes or receptors, making it useful in the study of diseases such as cancer, inflammation, and neurological disorders. Additionally, it is employed in organic chemistry as a building block for more complex chemical structures, aiding in the exploration of novel therapeutic agents.