This compound is primarily utilized in the pharmaceutical and research sectors due to its role as a key intermediate in the synthesis of various biologically active molecules. It is particularly significant in the development of compounds targeting neurological and psychiatric disorders, as it can be incorporated into structures that interact with specific receptors in the brain. Additionally, its chemical framework is valuable in creating potential drug candidates for anti-inflammatory and analgesic applications. Researchers also explore its use in designing small molecules for studying cellular pathways and signaling mechanisms, making it a versatile tool in medicinal chemistry.