Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. It is particularly valuable in the development of quinolone-based antibiotics, which are effective against a wide range of bacterial infections. Additionally, it is utilized in the creation of anti-inflammatory and anticancer agents due to its structural properties that allow for targeted drug design. Its role in organic synthesis also extends to the production of dyes and pigments, where it contributes to the stability and color properties of the final products.