This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its structure is particularly valuable in the development of drugs targeting inflammatory and pain-related conditions, as it can be modified to enhance binding affinity to specific biological targets. Additionally, it serves as a building block in the creation of novel compounds with potential therapeutic applications, such as enzyme inhibitors or receptor modulators. Its versatility also extends to agrochemical research, where it may be employed in the design of new pesticides or herbicides.