This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of more complex molecules. It plays a crucial role in the development of pharmaceutical agents, particularly those targeting neurological disorders and cancer. Its structure allows for further functionalization, making it valuable in the design of bioactive compounds. Researchers often employ it in the construction of pyrrole-based frameworks, which are known for their therapeutic potential. Additionally, it is used in the study of enzyme inhibition and receptor binding, aiding in the discovery of new drugs with improved efficacy and selectivity.