This compound is primarily utilized in research and development, particularly in the field of medicinal chemistry. It serves as a key intermediate in the synthesis of various biologically active molecules, including potential drug candidates. Its structure is often explored for designing compounds with therapeutic properties, such as anti-inflammatory, antimicrobial, or anticancer agents. Additionally, it is studied for its role in modulating specific biochemical pathways, making it valuable in pharmacological studies aimed at discovering new treatments for diseases.