This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It plays a significant role in the development of pharmaceutical agents, particularly those targeting specific enzymes or receptors. Its structure is often incorporated into compounds designed for anticancer, anti-inflammatory, or antimicrobial applications. Additionally, it is used in research to explore structure-activity relationships (SAR) in drug discovery, helping to optimize the efficacy and selectivity of potential therapeutic candidates.