This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of anti-inflammatory and analgesic drugs, as it can be modified to enhance biological activity and selectivity. Additionally, it is employed in the synthesis of heterocyclic compounds, which are crucial in the design of new therapeutic agents. Its role in medicinal chemistry extends to the exploration of novel drug candidates, particularly in targeting specific enzymes or receptors involved in disease pathways.