This compound is primarily utilized in research settings for its potential as a building block in organic synthesis. It serves as a key intermediate in the development of more complex molecules, particularly in the pharmaceutical industry. Researchers explore its structure to design and synthesize novel compounds with potential therapeutic applications, such as antimicrobial or anticancer agents. Additionally, it is studied for its role in modulating biological pathways, making it a valuable tool in medicinal chemistry and drug discovery. Its versatility in chemical reactions also makes it useful in material science for creating specialized polymers or coatings.