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 developing potential pharmaceutical agents, particularly in the creation of kinase inhibitors, which are important in the treatment of cancers and inflammatory diseases. Additionally, its structure is valuable in the design and synthesis of heterocyclic compounds that exhibit antimicrobial and antiviral properties, making it significant in the development of new therapeutic drugs. Its role in organic synthesis also extends to the production of complex molecules for research and drug discovery processes.