This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of biologically active molecules, particularly those targeting specific enzymes or receptors in drug discovery programs. Its structure is often modified to develop potential therapeutic agents, especially in the treatment of neurological disorders and inflammatory diseases. Researchers also explore its use in creating inhibitors for various protein kinases, which play a critical role in cellular signaling pathways. Additionally, its derivatives are investigated for their potential antimicrobial and anticancer properties, making it a valuable scaffold in the development of novel drugs.