This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting specific enzymes or receptors in therapeutic applications. Its structure is valuable in the design of compounds that may exhibit anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it is employed in the preparation of heterocyclic compounds, which are often explored for their potential in drug discovery and medicinal chemistry. Researchers also leverage its reactivity in organic synthesis to create novel derivatives for further biological evaluation.