This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. It plays a significant role in the development of inhibitors targeting specific enzymes, particularly those involved in cellular signaling pathways. Its structural framework is often incorporated into molecules designed to modulate biological processes, making it valuable in the creation of potential therapeutic drugs. Additionally, it has been explored in research for its potential application in treating conditions related to abnormal cell proliferation, such as certain types of cancers. Its versatility in chemical synthesis also makes it a useful building block for further derivatization in drug discovery programs.