This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting specific enzymes or receptors. Its structure is often modified to develop potential drug candidates for treating diseases such as cancer, inflammation, or neurological disorders. Additionally, it is employed in organic synthesis to create complex molecules for further biological evaluation. Researchers also use it to study structure-activity relationships (SAR) to optimize the efficacy and selectivity of new therapeutic agents.