This compound is primarily utilized in the field of medicinal chemistry, where it serves 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, as it can be modified to enhance binding affinity to specific receptors. Additionally, it is employed in the creation of compounds with potential anti-inflammatory and antimicrobial properties. Researchers also explore its use in the design of fluorescent probes for biological imaging, leveraging its unique chemical framework to improve detection sensitivity in cellular studies.