This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its unique structure makes it a valuable building block for developing drugs that target specific biological pathways. It is often employed in the creation of compounds with potential anti-inflammatory, antimicrobial, or anticancer properties. Additionally, its derivatives are explored for their role in modulating enzyme activity or receptor interactions, contributing to the development of novel therapeutic treatments. Researchers also investigate its use in designing molecules for neurological disorders due to its ability to cross the blood-brain barrier.