This compound is primarily utilized in organic synthesis as a key intermediate for the development of various pharmacologically active molecules. It serves as a building block in the preparation of isoindoline derivatives, which are often explored for their potential therapeutic properties, including anticancer, anti-inflammatory, and antimicrobial activities. Additionally, its structure is valuable in the synthesis of complex heterocyclic compounds, which are significant in medicinal chemistry and drug discovery. Its application extends to materials science, where it contributes to the development of organic semiconductors and other functional materials.