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 neurological disorders, as it can interact with specific receptors in the brain. Additionally, it serves as a building block in the creation of compounds with potential anti-inflammatory and analgesic properties. Researchers also explore its use in designing molecules for the treatment of certain types of cancer, leveraging its ability to modulate cellular pathways. Its versatility makes it a significant component in drug discovery and development processes.