Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. Its structure is valuable in the development of compounds with potential biological activities, such as anti-inflammatory and anticancer agents. Additionally, it plays a role in the synthesis of complex organic molecules, including natural product analogs and heterocyclic compounds, which are essential in medicinal chemistry research. Its application extends to material science, where it contributes to the creation of advanced organic materials with specific optical or electronic properties.