This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting specific enzymes or receptors. Its structure is often exploited in the design of potential therapeutic agents, especially in the development of anti-inflammatory and anticancer drugs. Researchers also explore its utility in creating novel compounds for neurological and metabolic disorder treatments. Additionally, it finds application in organic synthesis as a building block for more complex chemical structures, aiding in the discovery of new drug candidates.