This compound is primarily utilized in the field of chemical biology and drug development, where it serves as a versatile tool for targeted protein degradation. It is often employed in the design and synthesis of proteolysis-targeting chimeras (PROTACs), which are bifunctional molecules that facilitate the degradation of specific proteins within cells. The compound's structure allows it to bind to E3 ubiquitin ligase, a key component in the ubiquitin-proteasome system, enabling the selective tagging and subsequent breakdown of disease-causing proteins. Its application is particularly valuable in cancer research, where it aids in the development of therapies aimed at eliminating oncogenic proteins. Additionally, it is used in biochemical studies to explore protein function and regulation, providing insights into cellular mechanisms and potential therapeutic targets.