This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of compounds targeting specific enzymes or receptors, making it a crucial component in drug discovery processes. Additionally, it has been explored for its potential use in the development of anticancer and anti-inflammatory agents due to its ability to interact with cellular pathways. Its versatility also extends to agrochemical research, where it may serve as a building block for designing novel pesticides or herbicides.