This chemical is primarily utilized in the synthesis of organic compounds, particularly in the development of pharmaceutical intermediates. Its structure makes it a valuable building block in the creation of complex molecules, often used in medicinal chemistry for drug discovery and development. It can serve as a precursor in the synthesis of ligands for various biological targets, including enzymes and receptors. Additionally, it finds application in material science, where it is incorporated into the design of advanced materials with specific optical or electronic properties. Its role in organic synthesis often involves reactions such as condensation or coupling to form more complex structures.