This compound is primarily utilized in the synthesis of various pharmaceutical agents, particularly as an intermediate in the production of drugs targeting neurological and inflammatory conditions. Its structure allows for modification, making it valuable in medicinal chemistry for developing compounds with specific biological activities. Additionally, it is employed in organic synthesis to create complex molecules, often serving as a building block in the preparation of more intricate chemical entities. Its applications extend to research settings, where it is used to study reaction mechanisms and develop novel therapeutic agents.