This compound is primarily utilized in pharmaceutical research and development as an intermediate in the synthesis of various biologically active molecules. Its structure makes it a valuable building block for creating compounds that may exhibit therapeutic properties, particularly in the development of drugs targeting inflammation, cancer, and neurological disorders. Additionally, it is explored in medicinal chemistry for its potential role in designing enzyme inhibitors, given its ability to interact with specific protein targets. Researchers also investigate its use in the preparation of novel heterocyclic compounds, which are essential in drug discovery programs.