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 specific enzymes or receptors involved in disease pathways. Its structural features make it a valuable scaffold for developing potential therapeutic agents, especially in the areas of anti-inflammatory, anticancer, and antimicrobial drug discovery. Researchers often explore its derivatives to optimize pharmacological properties, such as efficacy, selectivity, and bioavailability, for targeted drug development.