This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting specific enzymes or receptors in therapeutic applications. Its structural framework is often explored for developing potential drugs with anti-inflammatory, antimicrobial, or anticancer properties. Researchers also investigate its derivatives for their efficacy in modulating biological pathways, making it a valuable scaffold in drug discovery and development. Additionally, it may be used in the study of chemical reactions and mechanisms due to its unique reactivity and functional groups.