This compound is primarily utilized in the field of organic synthesis as a key intermediate for the preparation of various heterocyclic compounds. It plays a significant role in the development of pharmaceuticals, particularly in the synthesis of molecules with potential therapeutic properties, such as antimicrobial or anticancer agents. Additionally, it is employed in research settings to study reaction mechanisms and to develop new synthetic methodologies. Its unique structure allows it to act as a building block for more complex chemical entities, making it valuable in drug discovery and development processes.