This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. It serves as a building block for the development of compounds with potential therapeutic applications, particularly in the design of drugs targeting neurological disorders and cancer. Its structure allows for modifications that can enhance binding affinity to specific biological targets, making it valuable in drug discovery and optimization processes. Additionally, it is employed in research settings to study structure-activity relationships, aiding in the identification of novel bioactive compounds.