This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of potential therapeutic agents targeting neurological disorders, such as Alzheimer's disease, due to its ability to modulate specific enzymes or receptors in the brain. Additionally, it has been explored for its potential anti-inflammatory and antioxidant properties, making it a candidate for research in treating chronic inflammatory conditions. Its pyridine and indanone moieties contribute to its versatility in drug design, enabling the creation of derivatives with enhanced efficacy and selectivity. Researchers also investigate its role in the development of novel inhibitors for enzymes involved in cancer progression, highlighting its significance in oncology research.