Primarily utilized in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure is particularly valuable in the creation of molecules with potential therapeutic effects, especially in the fields of oncology and neurology. Additionally, it is employed in organic synthesis for the preparation of complex heterocyclic compounds, which are often explored for their biological activities. The compound's unique chemical properties also make it suitable for use in material science, where it contributes to the development of advanced polymers and coatings with specific functionalities.