This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of compounds with potential therapeutic effects, such as anti-inflammatory and anticancer agents. Additionally, it is employed in the synthesis of advanced materials, including polymers and coatings, due to its ability to impart specific chemical properties. In research, it is often used as a building block for creating complex molecules with tailored functionalities, aiding in the exploration of new chemical reactions and pathways.