This compound is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the preparation of various pharmaceutical agents, particularly in the development of compounds with potential therapeutic activities. Its structure allows for further functionalization, making it valuable in constructing complex molecules. Additionally, it serves as a key building block in the synthesis of heterocyclic compounds, which are crucial in medicinal chemistry. Its application extends to research settings where it is used to explore new chemical reactions and pathways, contributing to advancements in drug discovery and development.