This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and biologically active compounds. Its unique structure makes it valuable for constructing complex molecules, particularly in the development of drugs targeting neurological disorders and cancer. Additionally, it is employed in research settings to study its potential applications in medicinal chemistry, often explored for its role in modulating specific biological pathways. Its versatility also extends to material science, where it is investigated for use in the design of advanced organic materials with specific electronic or optical properties.