This compound is primarily utilized in pharmaceutical research and development, particularly as a key intermediate in the synthesis of various biologically active molecules. Its structure is valuable in the design of drug candidates targeting neurological disorders, such as Alzheimer's disease and Parkinson's disease, due to its potential to interact with specific receptors in the brain. Additionally, it has been explored for its role in the development of compounds with anti-inflammatory and analgesic properties. Researchers also investigate its use in creating inhibitors for enzymes involved in cancer progression, making it a versatile component in medicinal chemistry.