This compound is primarily utilized in the field of medicinal chemistry due to its potential biological activities. It is often investigated for its role as a precursor in the synthesis of various heterocyclic compounds, which are crucial in drug development. Researchers explore its applications in designing molecules with anti-inflammatory, antimicrobial, and anticancer properties. Additionally, its structural framework makes it a valuable candidate for studying enzyme inhibition, particularly in the context of developing therapeutic agents for diseases like cancer and microbial infections. Its versatility in organic synthesis also allows for the creation of diverse derivatives, enabling further exploration of its pharmacological potential.