This chemical is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active compounds. Its structure is particularly valuable in the creation of molecules that target specific enzymes or receptors, making it a crucial component in the design of new drugs. Additionally, it is explored for its potential applications in the development of treatments for neurological disorders, given its ability to interact with certain neural pathways. Its role in medicinal chemistry is significant, as it contributes to the discovery of novel therapeutic agents.