Used as a key intermediate in the synthesis of antidiabetic agents, particularly in the development of thiazolidinedione derivatives that act as insulin sensitizers. It plays a role in modulating peroxisome proliferator-activated receptors (PPARs), especially PPARγ, which regulates glucose and lipid metabolism. Its structural features enhance binding affinity and selectivity toward PPARγ, making it valuable in medicinal chemistry for designing drugs targeting type 2 diabetes. Additionally, it has shown potential in anti-inflammatory and anticancer research due to its ability to influence cell proliferation and apoptosis pathways.