This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of pharmaceutical agents, especially those targeting specific enzymes or receptors. Researchers often employ it in the design and synthesis of novel drug candidates, particularly in the areas of oncology and inflammation, due to its potential to modulate biological pathways. Additionally, its functional groups make it a versatile building block for further chemical modifications, enabling the creation of diverse compounds with tailored properties for therapeutic applications.