This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of more complex molecules. It plays a crucial role in the development of pharmaceuticals, particularly in the creation of compounds with potential therapeutic effects. Its structure is often leveraged in the design of drugs targeting specific biological pathways, such as enzyme inhibition or receptor modulation. Researchers also explore its derivatives for their potential anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it may be used in academic and industrial research to study structure-activity relationships, aiding in the optimization of drug candidates for improved efficacy and safety.