This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various therapeutically active molecules, particularly those targeting neurological and cardiovascular disorders. Its structure is often modified to enhance bioavailability and efficacy in drug formulations. Additionally, it is explored in the study of enzyme inhibition, where it plays a role in understanding biochemical pathways and designing inhibitors for specific enzymes. Its applications also extend to the development of novel compounds with potential anti-inflammatory and antioxidant properties.