This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various heterocyclic compounds, which are often explored for their potential biological activities. Researchers employ it in the synthesis of analogs that may exhibit therapeutic properties, such as anti-inflammatory, antimicrobial, or anticancer effects. Additionally, its structure makes it a valuable building block in the creation of complex molecules for drug discovery programs. The compound's versatility allows it to be modified to enhance specific pharmacological profiles, making it a significant tool in medicinal chemistry.