This compound is primarily used in the development of anticancer drugs due to its structural similarity to paclitaxel, a well-known chemotherapy agent. It serves as a key intermediate in the synthesis of paclitaxel derivatives, which are designed to improve therapeutic efficacy and reduce side effects. Researchers utilize it to explore modifications that enhance drug delivery, solubility, and tumor-targeting capabilities. Its role in medicinal chemistry is significant for advancing treatments for various cancers, including ovarian, breast, and lung cancer. Additionally, it is studied for its potential in overcoming drug resistance in certain cancer types.