This compound is primarily utilized in the field of medicinal chemistry as a core structure for the development of pharmaceutical agents. It serves as a key intermediate in synthesizing molecules with potential therapeutic effects, particularly in targeting enzymes or receptors involved in various diseases. Its derivatives are explored for their anti-inflammatory, anticancer, and antimicrobial properties, making it a valuable scaffold in drug discovery. Additionally, it has been studied for its role in modulating biological pathways, offering potential applications in treating neurological disorders and metabolic conditions. Researchers also investigate its use in designing inhibitors for specific protein targets, contributing to the development of targeted therapies.