This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of various biologically active molecules. It serves as a key intermediate in the production of compounds that exhibit potential therapeutic effects, such as neuroprotective, anti-inflammatory, and analgesic properties. Its structural framework is valuable in designing drugs targeting central nervous system disorders, including Parkinson's disease and other neurodegenerative conditions. Additionally, it is employed in organic chemistry studies to explore novel reaction pathways and develop efficient synthetic methodologies for complex heterocyclic compounds.