Used primarily in the synthesis of pharmaceuticals, particularly in the development of compounds with potential therapeutic effects. It serves as a key intermediate in the production of drugs targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it is employed in research for creating fluorescent probes, aiding in biological imaging and diagnostic applications. Its derivatives are also explored for their anti-inflammatory and antimicrobial properties, making it valuable in the development of new treatments for infections and inflammatory conditions.