This compound is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the production of pharmaceuticals, particularly in the development of compounds with potential therapeutic properties. Its structure allows it to act as a building block for synthesizing more complex molecules, especially in the creation of heterocyclic compounds. Additionally, it is employed in research settings for studying chemical reactions and mechanisms, contributing to advancements in medicinal chemistry and drug discovery. Its applications also extend to material science, where it is used in the development of specialized polymers and other advanced materials.