This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting anti-inflammatory and antimicrobial activities. Researchers often explore its derivatives for potential therapeutic applications, leveraging its structural framework to design new drugs. Additionally, it is occasionally employed in organic synthesis for creating complex chemical structures in academic and industrial laboratories. Its role in medicinal chemistry underscores its importance in advancing drug discovery efforts.