Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in creating compounds with potential therapeutic applications, such as inhibitors for specific enzymes or receptors. Additionally, it is utilized in the preparation of heterocyclic compounds, which are often explored for their medicinal properties, including antimicrobial, antifungal, and anticancer activities. Its role in organic synthesis also extends to the development of novel materials and chemical probes for studying biological processes.