This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. Its structure, featuring multiple functional groups, makes it a valuable intermediate in the development of complex molecules. It is often employed in the synthesis of potential drug candidates, particularly those targeting neurological or inflammatory conditions, due to its ability to interact with biological systems. Additionally, its unique chemical properties make it suitable for studying enzyme interactions and receptor binding mechanisms. Researchers also explore its use in creating novel materials with specific optical or electronic properties for advanced technological applications.