This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various bioactive molecules, particularly those targeting neurological and inflammatory disorders. Its structural framework is often incorporated into the design of enzyme inhibitors, which can modulate specific biochemical pathways involved in disease progression. Additionally, it is explored in the creation of novel therapeutic agents due to its potential to interact with biological targets effectively. Researchers also investigate its derivatives for their potential antimicrobial and anticancer properties, making it a versatile component in drug discovery efforts.