This compound is primarily utilized in organic synthesis as a building block for the development of more complex molecules. It serves as a key intermediate in the preparation of various pharmaceuticals, particularly in the synthesis of antimalarial drugs and other therapeutic agents. Its structure allows for further functionalization, making it valuable in medicinal chemistry for designing compounds with specific biological activities. Additionally, it is employed in research settings to study chemical reactions and develop new methodologies in heterocyclic chemistry. Its applications also extend to the field of material science, where it can be used to create novel organic materials with potential electronic or photonic properties.