This chemical is primarily utilized in the pharmaceutical industry as a key intermediate in the synthesis of various biologically active compounds. It plays a significant role in the development of drugs targeting neurological disorders, such as Alzheimer's disease and other cognitive impairments. Its structural features make it a valuable building block for creating molecules that interact with specific receptors in the brain, potentially enhancing therapeutic outcomes. Additionally, it is employed in research settings to explore new drug candidates and optimize existing pharmacological agents, contributing to advancements in medicinal chemistry.