Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the development of potential drugs targeting neurological disorders, as it can be modified to interact with specific receptors in the brain. Additionally, it has been explored for its role in creating compounds with anti-inflammatory and antioxidant properties, making it a candidate for therapeutic applications in conditions like arthritis or oxidative stress-related diseases. Its versatility in organic synthesis also extends to the production of agrochemicals, where it contributes to the development of novel pesticides or herbicides.