This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the creation of compounds that exhibit potential therapeutic effects, such as anti-inflammatory, antimicrobial, or anticancer properties. Its unique structure allows it to interact with specific biological targets, making it valuable in drug discovery. Additionally, it is explored in the development of novel heterocyclic compounds for use in medicinal chemistry, contributing to advancements in treating various diseases.