This compound is primarily utilized in the field of medicinal chemistry for its potential pharmacological properties. It is studied as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting inflammatory and cancer-related pathways. Researchers explore its structure for developing inhibitors of specific enzymes or receptors involved in disease mechanisms. Additionally, its derivatives are investigated for their potential as anti-inflammatory, anti-cancer, or anti-microbial agents, making it a valuable compound in drug discovery and development processes.