This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It is often incorporated into the development of pharmaceutical agents, particularly those targeting neurological disorders and inflammation. Its structure is conducive to binding with specific enzymes or receptors, making it valuable in the design of inhibitors or modulators. Additionally, it finds application in research settings for studying structure-activity relationships to optimize drug efficacy and selectivity. Its versatility also extends to agrochemical research, where it is explored for potential use in developing new pesticides or herbicides.