This compound is primarily utilized in the field of medicinal chemistry due to its potential biological activities. It serves as a key intermediate in the synthesis of various heterocyclic compounds, which are often explored for their pharmacological properties. Researchers investigate its derivatives for possible applications as antimicrobial, antifungal, or anticancer agents, given the structural features that align with bioactive molecules. Additionally, it is studied for its role in developing new therapeutic agents targeting specific enzymes or pathways in disease mechanisms. Its versatility in chemical reactions makes it a valuable building block in drug discovery and development processes.