This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its structure is particularly valuable in the development of drugs targeting the central nervous system, where it can be incorporated into molecules designed to interact with specific receptors or enzymes. Additionally, it has shown potential in the creation of anti-inflammatory and antimicrobial agents, making it a versatile building block for drug discovery. Researchers also explore its use in the design of fluorescent probes for biochemical studies, leveraging its unique chemical properties to visualize and track biological processes.