This chemical is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical compounds. Its structure is particularly valuable in the development of drugs targeting neurological disorders, such as Alzheimer's disease and Parkinson's disease, due to its ability to interact with specific receptors in the brain. Additionally, it serves as a building block in the creation of molecules with potential anti-inflammatory and analgesic properties, making it significant in the research and development of new pain management therapies. Its application extends to the study of enzyme inhibition, where it aids in understanding biochemical pathways and designing enzyme-targeted drugs.