This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of kinase inhibitors, which are crucial for targeting specific enzymes involved in cellular signaling pathways. These inhibitors have potential applications in treating diseases such as cancer, inflammatory disorders, and autoimmune conditions. Additionally, the compound's scaffold is explored in medicinal chemistry for designing novel drugs with improved efficacy and selectivity. Its versatility makes it a significant component in drug discovery and development processes.