This compound is primarily utilized in organic synthesis as an intermediate for the development of more complex chemical structures. It plays a significant role in the synthesis of pharmaceuticals, particularly in the creation of compounds with potential therapeutic effects. Its structure is often exploited in medicinal chemistry for designing molecules that interact with biological targets, such as enzymes or receptors. Additionally, it can be used in research settings to study reaction mechanisms or to develop novel synthetic pathways for heterocyclic compounds. Its stability and functional groups make it a versatile building block in drug discovery and development processes.