This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting enzyme inhibition. Its structure is often exploited in the design of inhibitors for kinases and phosphodiesterases, which are crucial in treating diseases like cancer, inflammation, and cardiovascular disorders. Additionally, it has been explored in the development of compounds with potential antiviral and antimicrobial properties, making it a valuable scaffold in pharmaceutical research.