Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in creating compounds with potential therapeutic applications, such as enzyme inhibitors or receptor modulators. Additionally, it is employed in the preparation of ligands for metal coordination studies, aiding in the development of catalysts or materials with specific chemical properties. Its role in medicinal chemistry is significant, contributing to the discovery of new drugs targeting diseases like cancer, inflammation, or neurological disorders.