This chemical is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active compounds, particularly those targeting therapeutic applications. Its structure is often exploited in the design of molecules that interact with specific enzymes or receptors, making it valuable in the creation of potential drugs for treating diseases such as cancer, inflammation, or microbial infections. Additionally, its derivatives are studied for their potential use in developing novel agrochemicals, contributing to advancements in crop protection and pest management.