This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It plays a significant role in the development of pharmaceutical agents, particularly those targeting enzymes or receptors involved in diseases. Its structure is often incorporated into compounds being studied for their potential anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it serves as a building block in organic synthesis, aiding in the creation of complex molecules for research and drug discovery. Its versatility makes it valuable in designing novel therapeutic candidates.