This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research due to its unique structural properties. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting specific enzymes or receptors involved in disease pathways. Its application is significant in the development of potential therapeutic agents, especially for conditions like cancer, inflammation, or infectious diseases, where its structural framework can be modified to enhance efficacy and selectivity. Additionally, it is explored in material science for the design of advanced organic materials with specific electronic or optical properties.