This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of drugs targeting neurological disorders and inflammation. Its structure allows it to act as a precursor in the production of compounds that modulate specific receptors in the brain, making it valuable in research focused on mental health treatments. Additionally, it is employed in organic chemistry research for the development of novel heterocyclic compounds, which have potential applications in material science and catalysis. Its unique properties also make it a candidate for use in dye and pigment industries, where it contributes to the creation of specialized colorants.