This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It is particularly significant in the development of pharmaceutical agents targeting specific enzymes or receptors. Its structural framework is often incorporated into compounds designed for therapeutic applications, such as anti-inflammatory, anticancer, or cardiovascular drugs. Additionally, it serves as a building block in organic synthesis for creating complex heterocyclic compounds, which are further explored for their potential in drug discovery and development. Its versatility and reactivity make it a valuable component in the design of novel therapeutic agents.