This compound is primarily utilized in the synthesis of advanced organic materials and intermediates for pharmaceutical research. It serves as a key building block in the development of novel compounds with potential biological activity, particularly in the field of medicinal chemistry. Its structure is often leveraged to create derivatives that can interact with specific enzymes or receptors, making it valuable in drug discovery efforts. Additionally, it is used in academic and industrial laboratories for studying chemical reactivity and designing molecules with tailored properties for various applications.