This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. It serves as a building block for developing compounds with potential therapeutic applications, particularly in the treatment of neurological disorders and inflammatory diseases. Its structure is often modified to enhance biological activity, making it valuable in drug discovery and development processes. Additionally, it is studied for its role in inhibiting specific enzymes or receptors, which could lead to the creation of novel treatments for conditions like pain management or autoimmune disorders.