This chemical is primarily utilized in the synthesis of various organic compounds, particularly in the development of pharmaceuticals. It serves as a key intermediate in the production of drugs that target specific biological pathways, such as anti-inflammatory and anticancer agents. Its structure allows for modifications that can enhance the efficacy and selectivity of these drugs. Additionally, it is employed in research settings to study and develop new chemical entities with potential therapeutic benefits. Its role in the creation of complex molecules makes it valuable in medicinal chemistry and drug discovery processes.