This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of compounds that exhibit potential therapeutic effects, such as antimicrobial, antifungal, or anti-inflammatory properties. Researchers often explore its derivatives for their ability to interact with specific enzymes or receptors, making it a crucial component in drug discovery processes. Additionally, it may be employed in the development of agrochemicals, where its derivatives could contribute to the formulation of pesticides or herbicides, aiding in crop protection and yield improvement.