This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting enzyme inhibition or receptor modulation. Its structural features make it suitable for developing compounds with potential therapeutic applications, such as anti-inflammatory, antimicrobial, or anticancer agents. Additionally, it is often employed in the design of heterocyclic compounds, which are crucial in drug discovery due to their diverse pharmacological properties. Its role in organic synthesis also extends to creating complex molecules for further biological evaluation.