Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure allows for further functionalization, making it valuable in creating potential drug candidates, particularly in the fields of oncology and infectious diseases. Additionally, it is employed in organic synthesis to construct complex heterocyclic compounds, which are often explored for their therapeutic properties. Its reactivity with different reagents also makes it useful in material science for developing novel organic materials.