This compound is primarily utilized in the synthesis of pharmaceuticals, particularly in the development of drugs that target cardiovascular and neurological disorders. Its structure serves as a key intermediate in the production of calcium channel blockers, which are essential for treating hypertension and angina. Additionally, it is employed in the preparation of various heterocyclic compounds, which are crucial in medicinal chemistry for their diverse biological activities. The compound also finds application in organic synthesis as a building block for creating complex molecules with potential therapeutic properties. Its versatility in chemical reactions makes it valuable in research and development of new drug candidates.