This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure serves as a scaffold for developing compounds with potential therapeutic applications, particularly in the treatment of neurological disorders and inflammatory conditions. Researchers have explored its derivatives for their ability to modulate specific enzyme activities, making it valuable in drug discovery efforts. Additionally, it has been investigated for its role in creating novel pharmaceuticals targeting cancer, due to its potential to interfere with cellular signaling pathways. Its versatility in chemical reactions also makes it a useful building block in organic synthesis for creating complex heterocyclic compounds.