This compound is primarily utilized in the field of pharmaceutical research and development, where it serves as a key intermediate in the synthesis of various biologically active molecules. Its unique structure makes it valuable for constructing heterocyclic compounds, which are often explored for their potential therapeutic properties. Researchers focus on its application in designing drugs targeting specific enzymes or receptors, particularly in the development of treatments for neurological disorders and cancer. Additionally, it is employed in organic synthesis to create novel compounds with potential antimicrobial or anti-inflammatory activities. Its versatility in chemical reactions also makes it a useful building block in medicinal chemistry for optimizing drug candidates.