This compound is primarily utilized in pharmaceutical research and development due to its potential biological activity. It serves as a key intermediate in the synthesis of various heterocyclic compounds, which are often explored for their therapeutic properties. Researchers investigate its derivatives for potential applications in treating neurological disorders, as it may interact with specific receptors in the brain. Additionally, it is studied for its possible anti-inflammatory and antioxidant effects, making it a candidate for drug development targeting chronic diseases. Its structural framework is also valuable in organic chemistry for designing novel molecules with enhanced pharmacological profiles.