This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is often leveraged in the development of potential therapeutic agents, particularly in the design of compounds targeting specific enzymes or receptors. Researchers explore its derivatives for their potential anti-inflammatory, antimicrobial, or anticancer properties, making it a valuable scaffold in drug discovery. Additionally, it may be employed in organic synthesis to create complex heterocyclic compounds for further pharmacological evaluation. Its unique chemical framework allows for modifications that can enhance drug-like properties, such as solubility, stability, and bioavailability.