This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It plays a crucial role in the development of drugs targeting specific diseases, particularly in the field of oncology and inflammation. Its structure is essential for creating compounds that inhibit certain enzymes or receptors, making it valuable in designing therapies with targeted action. Additionally, it is used in research settings to study biochemical pathways and develop novel therapeutic agents. Its versatility in chemical reactions also makes it a useful building block in organic synthesis for creating more complex molecules.