This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly those targeting therapeutic applications. Its structure is often leveraged in the design of compounds with potential anti-inflammatory, antimicrobial, or anticancer properties. Additionally, it may be used in the synthesis of heterocyclic compounds, which are valuable in medicinal chemistry for their diverse pharmacological activities. Researchers also explore its utility in creating novel materials or ligands for catalytic processes in industrial chemistry.