This compound is primarily utilized in the field of pharmaceutical research and development, where it serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the creation of compounds that target specific enzymes or receptors, making it a crucial component in the design of potential drugs for treating diseases such as cancer, neurological disorders, and inflammatory conditions. Additionally, it is explored in organic chemistry for the development of novel heterocyclic compounds, which are often studied for their unique chemical properties and potential applications in material science and catalysis.