This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It serves as a building block for the development of kinase inhibitors, which are crucial in targeting specific signaling pathways involved in diseases such as cancer and inflammatory disorders. Additionally, its structural framework is explored in the design of potential therapeutic agents for cardiovascular and neurological conditions. Researchers also investigate its derivatives for their potential as antiviral and antimicrobial agents, making it a versatile component in drug discovery and development.