This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its structure is particularly valuable in the development of drugs targeting the central nervous system, where it can be incorporated into molecules designed to interact with specific receptors or enzymes. Additionally, it has shown potential in the creation of anti-inflammatory and antimicrobial compounds, making it a versatile building block in drug discovery. Researchers also explore its use in the development of fluorescent probes for biological imaging, leveraging its unique chemical properties to enhance detection and analysis in cellular studies.