This compound is primarily used in pharmaceutical research and development, particularly in the synthesis of novel therapeutic agents. Its unique structure makes it a valuable intermediate in the creation of compounds targeting neurological disorders, such as Alzheimer's disease and Parkinson's disease. Additionally, it has shown potential in the development of anti-inflammatory and analgesic drugs due to its ability to modulate specific biochemical pathways. Researchers also explore its application in designing enzyme inhibitors, which can be crucial in treating various metabolic and genetic disorders. Its versatility in organic synthesis further extends its use in creating complex molecules for drug discovery and medicinal chemistry.