This compound is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex molecules. It is particularly valuable in the pharmaceutical industry, where it serves as a building block for the synthesis of various active pharmaceutical ingredients (APIs). Its structure allows for further functionalization, making it a key component in the creation of heterocyclic compounds, which are often found in drugs targeting a wide range of diseases. Additionally, it is used in research and development for exploring new chemical reactions and pathways, contributing to advancements in medicinal chemistry and drug discovery.