Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the development of heterocyclic compounds, which are essential in creating drugs with potential antiviral, antibacterial, and anticancer properties. Additionally, it finds application in organic synthesis, where it acts as a building block for more complex chemical structures. Researchers also explore its utility in designing novel therapeutic agents targeting specific enzymes or receptors, contributing to advancements in medicinal chemistry.