This compound is primarily used in organic synthesis and pharmaceutical research as a building block for the development of various bioactive molecules. It serves as a key intermediate in the preparation of compounds with potential therapeutic applications, particularly in the synthesis of hydrazide derivatives. These derivatives are often explored for their pharmacological properties, such as antimicrobial, anticancer, or anti-inflammatory activities. Additionally, it is utilized in the study of enzyme inhibitors and receptor modulators, contributing to drug discovery and development processes. Its structural features make it valuable for constructing complex molecules in medicinal chemistry.