Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of quinazoline derivatives, which are explored for their potential as anticancer, anti-inflammatory, and antimicrobial agents. Its reactive chloromethyl group allows for further functionalization, making it a versatile building block in medicinal chemistry. Additionally, it is employed in the study of enzyme inhibition, particularly targeting kinases and other proteins involved in cellular signaling pathways. Researchers also utilize it to create novel compounds for screening in drug discovery programs.