This compound is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of active pharmaceutical ingredients (APIs). It plays a crucial role in the production of certain drugs, particularly those targeting metabolic disorders and cardiovascular diseases. Its unique structure allows it to act as a building block for more complex molecules, enabling the development of medications with specific therapeutic effects. Additionally, it is employed in research and development for creating novel compounds with potential pharmacological activities, contributing to advancements in drug discovery and medicinal chemistry.