This chemical is primarily utilized in pharmaceutical research and development due to its structural properties, which make it a valuable scaffold for designing bioactive compounds. It is often explored in the synthesis of potential drug candidates targeting neurological disorders, such as Alzheimer's disease and depression, owing to its ability to interact with specific receptors in the brain. Additionally, it serves as a key intermediate in the creation of heterocyclic compounds, which are essential in medicinal chemistry for developing treatments for various diseases. Its unique structure also makes it a subject of interest in studies focused on anticancer agents, where researchers investigate its potential to inhibit tumor growth. Beyond pharmaceuticals, it may be used in organic synthesis to create complex molecules for further scientific exploration.