This compound is primarily utilized in the field of medicinal chemistry for the development of pharmaceutical agents. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting enzyme inhibition or receptor modulation. Its structural features make it valuable in designing compounds for therapeutic applications, such as anticancer, anti-inflammatory, or antimicrobial agents. Researchers often explore its derivatives to optimize drug efficacy and specificity. Additionally, it is used in academic and industrial research to study structure-activity relationships and develop novel drug candidates.