This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceuticals. It plays a significant role in the development of compounds with potential therapeutic effects, particularly in the areas of neurology and oncology. Its structure is often explored for designing molecules that can interact with specific biological targets, such as receptors or enzymes, to modulate their activity. Additionally, it is investigated for its potential application in creating novel drugs with improved efficacy and reduced side effects. Researchers also study its derivatives for their possible use in treating conditions like cancer, neurodegenerative diseases, and other disorders. Its versatility makes it a valuable component in drug discovery and development processes.