This chemical is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active compounds. It plays a significant role in the development of pharmaceutical agents, particularly those targeting enzyme inhibition or receptor modulation. Its structural features make it a valuable building block for designing molecules with potential therapeutic applications, such as anti-inflammatory, anticancer, or antiviral drugs. Additionally, it is explored in research for its ability to form complexes with metals, which can be useful in catalysis or material science. Its versatility in chemical reactions also makes it a candidate for further exploration in drug discovery and development processes.