This compound is primarily utilized in organic synthesis as an intermediate for the production of more complex chemical structures. It serves as a key building block in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Its unique structure allows for modifications that can lead to the creation of molecules with specific biological activities. Additionally, it finds application in material science, where it is used in the development of advanced materials with tailored properties. Its role in research and development is significant, as it aids in the exploration of new chemical reactions and pathways.