This compound is primarily utilized in the field of pharmaceutical research and development, particularly in the synthesis of biologically active molecules. It serves as a key intermediate in the production of drugs targeting neurological disorders, including Alzheimer's disease and other cognitive impairments. Its structural features make it valuable for designing inhibitors of specific enzymes or receptors involved in neurodegenerative pathways. Additionally, it has been explored in the development of potential therapeutic agents for treating depression and anxiety due to its interaction with neurotransmitter systems. Researchers also investigate its use in creating novel compounds with anti-inflammatory or antioxidant properties, broadening its potential applications in medicinal chemistry.