This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of biologically active molecules. Its structure is particularly valuable for the development of pharmaceutical agents targeting various diseases. Researchers often employ it in the design and creation of compounds with potential therapeutic effects, such as anti-inflammatory, anti-cancer, or neuroprotective properties. Its versatility allows for modifications that can enhance drug efficacy and selectivity, making it a valuable building block in drug discovery and development processes. Additionally, it may be used in the preparation of heterocyclic compounds, which are essential in the development of new drugs and agrochemicals.