This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the preparation of various heterocyclic compounds, which are essential in pharmaceutical research and development. Its structure allows it to participate in condensation reactions, forming complex molecules that can be further modified for drug discovery. Additionally, it is used in the synthesis of peptides and peptidomimetics, contributing to the development of therapeutic agents targeting specific biological pathways. Its application extends to material science, where it aids in the creation of specialized polymers with unique properties.