This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting specific enzymes or receptors in therapeutic applications. Its structural features make it a valuable building block for creating compounds with potential anticancer, anti-inflammatory, or antimicrobial properties. Researchers often incorporate it into the design of small-molecule inhibitors to study and modulate biochemical pathways. Additionally, its derivatives are explored for their potential in treating neurological disorders due to their ability to interact with central nervous system targets. Its versatility in organic synthesis also makes it useful for developing novel pharmaceuticals with improved efficacy and selectivity.