This compound is primarily utilized in the field of organic synthesis as a key intermediate for the development of various pharmaceutical agents. It is particularly significant in the synthesis of compounds with potential therapeutic properties, such as inhibitors for specific enzymes or receptors. Its structural framework is often incorporated into molecules designed for drug discovery, especially in the development of treatments for conditions like cancer, inflammation, and cardiovascular diseases. Additionally, it may be used in the preparation of advanced materials or ligands for catalysis, contributing to innovations in chemical processes and industrial applications.