This compound is primarily utilized in pharmaceutical research and development due to its potential biological activity. It serves as a key intermediate in the synthesis of various therapeutic agents, particularly those targeting inflammation and cancer. Its structure is often modified to enhance efficacy and selectivity in drug candidates. Additionally, it is explored in the development of enzyme inhibitors, which play a crucial role in regulating biochemical pathways. Its applications also extend to material science, where it is investigated for its potential use in organic electronic materials due to its unique chemical properties.