This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. It serves as a building block in the creation of compounds targeting specific enzymes or receptors, particularly in the development of drugs for treating neurological disorders, inflammation, and certain types of cancer. Its structural framework is valuable in medicinal chemistry for designing molecules with improved efficacy and selectivity. Additionally, it is employed in the preparation of heterocyclic compounds that are explored for their potential therapeutic applications in drug discovery programs.