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 unique structure allows for the creation of compounds with potential therapeutic effects, making it valuable in drug discovery. Additionally, it is employed in the development of fluorescent probes and imaging agents, aiding in biological studies and diagnostics. Its applications also extend to material science, where it is used in the design of advanced organic materials with specific electronic or optical properties.