This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of active pharmaceutical ingredients (APIs). It serves as a key intermediate in the production of various biologically active molecules, including potential drug candidates targeting neurological and inflammatory disorders. Its structure is often incorporated into compounds designed to interact with specific receptors or enzymes in the body, making it valuable for medicinal chemistry applications. Additionally, it is employed in the preparation of ligands for catalysis and as a building block in organic synthesis for creating complex chemical structures.