This chemical is primarily utilized in the field of organic synthesis as a key intermediate for the development of various pharmacologically active compounds. Its structure is particularly valuable in the synthesis of heterocyclic compounds, which are often explored for their potential therapeutic properties. Researchers leverage this compound to create derivatives that may exhibit biological activities such as anti-inflammatory, anticancer, or antimicrobial effects. Additionally, it serves as a building block in the design of novel drug candidates targeting specific enzymes or receptors, making it a crucial component in medicinal chemistry research and drug discovery efforts.