This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It serves as a building block for the development of pharmaceutical agents, particularly those targeting neurological and cardiovascular disorders. Its structure is often modified to enhance drug efficacy and specificity. Additionally, it finds application in organic synthesis for creating complex heterocyclic compounds, which are essential in drug discovery and development processes. Researchers also explore its potential in designing novel therapeutic agents due to its versatile chemical framework.