Used primarily in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the development of anti-inflammatory and analgesic drugs, where its structure contributes to the efficacy of the final product. Additionally, it is employed in research settings for studying enzyme interactions and receptor binding, aiding in the discovery of new therapeutic agents. Its application extends to the field of organic chemistry, where it is utilized in the preparation of complex molecules for further chemical studies.