This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It serves as a building block for the development of pharmaceutical agents, particularly in the design of compounds targeting specific enzymes or receptors. Its structure is often incorporated into drug candidates to enhance binding affinity or modulate pharmacokinetic properties. Additionally, it is explored in research for its potential applications in creating novel therapeutic agents for diseases such as cancer, inflammation, and neurological disorders. Its versatility makes it a valuable tool in drug discovery and development processes.