This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It is often employed in the development of pharmaceutical agents, particularly those targeting central nervous system disorders, due to its structural features that allow for interaction with specific receptors. Additionally, it serves as a building block in the creation of compounds with potential anti-inflammatory, antimicrobial, and anticancer properties. Its versatility in chemical reactions makes it valuable for researchers exploring novel therapeutic options.