This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel therapeutic agents. Its structure is often explored for potential applications in treating central nervous system disorders, such as Parkinson's disease, due to its ability to interact with specific neurological pathways. Additionally, it serves as a key intermediate in the production of compounds with anti-inflammatory and antioxidant properties, making it valuable in the study of oxidative stress-related conditions. Researchers also investigate its potential in designing drugs targeting enzyme inhibition, which could be beneficial in managing metabolic and degenerative diseases.