This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various bioactive compounds. It plays a significant role in the development of drugs targeting specific diseases, particularly those involving the central nervous system. Its structure is advantageous for creating molecules with potential anti-inflammatory, antimicrobial, and anticancer properties. Additionally, it is used in research laboratories to explore novel therapeutic agents and optimize drug efficacy. The compound's versatility makes it valuable in medicinal chemistry for designing and testing new drug candidates.