This chemical is primarily utilized in the development of pharmaceutical compounds, particularly in the synthesis of drugs targeting cardiovascular and neurological disorders. Its structure is beneficial in creating molecules that exhibit antioxidant properties, which can help in reducing oxidative stress in cells. Additionally, it is used in research settings to study its potential effects on enzyme inhibition, which could lead to the development of new therapeutic agents. Its application extends to the field of organic chemistry, where it serves as a key intermediate in the synthesis of complex organic molecules.