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 involved in disease pathways. Its structural features make it a valuable scaffold for developing potential therapeutic agents, especially in areas like anti-inflammatory, anticancer, or central nervous system-related drug discovery. Researchers often modify its core structure to optimize pharmacokinetic properties and enhance efficacy in preclinical studies. Additionally, it may be used in the development of radiolabeled compounds for imaging or diagnostic purposes, leveraging the iodine atom in its structure.