This chemical is primarily utilized in the development of pharmaceutical compounds, particularly as a building block in the synthesis of biologically active molecules. It is often employed in the creation of potential drug candidates targeting various diseases, including neurological disorders and cancers, due to its structural properties that allow for effective interaction with biological targets. Additionally, it serves as a key intermediate in the production of compounds with potential therapeutic applications, such as kinase inhibitors or receptor modulators. Its versatility in chemical reactions makes it valuable for research and development in medicinal chemistry.