This compound is primarily utilized in organic synthesis as a building block for more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the creation of compounds with potential therapeutic properties. Its structure allows it to act as a key intermediate in the synthesis of heterocyclic compounds, which are significant in drug discovery. Additionally, it can be used in material science for the preparation of polymers and other advanced materials, where its unique chemical properties contribute to the desired characteristics of the final product.