This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly in the development of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of drugs that target specific biological pathways, such as anti-inflammatory and analgesic medications. Additionally, it is employed in organic synthesis to create complex molecules for research purposes, aiding in the study of chemical reactions and the development of new therapeutic agents. Its unique structure allows it to participate in reactions that modify its functional groups, making it versatile for creating derivatives with potential biological activity.