Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of antimalarial drugs, where its structural framework contributes to the efficacy of the final product. Additionally, it finds application in the creation of compounds with potential anti-inflammatory and anticancer properties, making it a versatile building block in medicinal chemistry. Its role in organic synthesis also extends to the production of dyes and other specialty chemicals.