This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex chemical structures. It is particularly valuable in the pharmaceutical industry, where it serves as a building block for the creation of various biologically active molecules. Researchers often employ it in the synthesis of potential drug candidates, especially those targeting specific enzymes or receptors. Additionally, its unique structure makes it suitable for use in the development of novel heterocyclic compounds, which are essential in medicinal chemistry for designing new therapeutic agents. Its application extends to material science as well, where it can be used to create specialized organic materials with specific properties.