This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly significant in the development of drugs targeting specific enzymes or receptors, often playing a role in the creation of therapeutic agents for conditions such as cancer, inflammation, or infectious diseases. Its unique structure allows for modifications that enhance the efficacy and selectivity of the resulting compounds. Additionally, it is employed in research settings for the development of novel chemical entities and the study of biochemical pathways, contributing to advancements in medicinal chemistry.