This chemical is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active compounds, particularly those targeting neurological disorders. Its structure is often incorporated into molecules designed to interact with specific receptors or enzymes in the brain, making it valuable for research into treatments for conditions like depression, anxiety, and neurodegenerative diseases. Additionally, it is explored in the development of anti-inflammatory and anticancer agents due to its potential to modulate cellular pathways. Its versatility in organic synthesis also makes it a useful building block for creating complex pharmaceutical compounds.