This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex chemical structures. It plays a significant role in the pharmaceutical industry, where it is used in the synthesis of various bioactive molecules and potential drug candidates. Its structure is particularly valuable in the creation of heterocyclic compounds, which are often explored for their therapeutic properties, such as antimicrobial, anti-inflammatory, or anticancer activities. Additionally, it is employed in research settings to study chemical reactions and mechanisms, contributing to advancements in medicinal chemistry and drug discovery.