This chemical is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical compounds. Its structure is particularly valuable in the development of drugs targeting neurological disorders, as it can be modified to interact with specific receptors in the brain. Additionally, it serves as a building block in the creation of molecules with potential anti-inflammatory and antimicrobial properties. Researchers also explore its use in designing novel therapeutic agents for treating conditions like anxiety, depression, and certain types of infections. Its versatility in chemical reactions makes it a crucial component in drug discovery and development processes.