This chemical is primarily utilized in research and development within the field of organic chemistry. It serves as a key intermediate in the synthesis of complex organic compounds, particularly those with potential pharmaceutical applications. Its structure allows for versatile reactivity, making it valuable in creating novel molecules for drug discovery and development. Additionally, it is employed in material science for the design of advanced polymers and coatings, where its specific properties contribute to enhanced performance and stability. Researchers also explore its use in catalysis, where it may act as a ligand or precursor to improve reaction efficiency in various chemical processes.