This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its structure is often exploited in the development of potential drugs for conditions like Alzheimer's disease, Parkinson's disease, and other neurodegenerative illnesses due to its ability to interact with specific receptors in the brain. Additionally, it is explored for its potential anti-inflammatory and antioxidant properties, making it a candidate for therapeutic applications in managing oxidative stress-related diseases. Researchers also investigate its role in modulating enzyme activity, which could lead to advancements in treating metabolic disorders. Its unique chemical framework makes it a valuable tool in drug discovery and development processes.