Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of anti-inflammatory and analgesic drugs due to its structural properties that allow for effective binding to target enzymes. Additionally, it is employed in the creation of heterocyclic compounds, which are essential in designing new therapeutic agents. Its role in organic synthesis also extends to the production of agrochemicals, where it contributes to the development of pesticides and herbicides. The compound’s versatility makes it a crucial component in medicinal chemistry and drug discovery processes.