Used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of drugs targeting specific enzyme systems, where its structural framework can be modified to enhance binding affinity and selectivity. Additionally, it finds application in the creation of novel therapeutic agents aimed at treating conditions such as inflammation, cancer, and infectious diseases. Its versatility also extends to material science, where it contributes to the design of advanced organic materials with potential uses in electronics and photonics.