Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the creation of compounds targeting neurological disorders, such as Alzheimer's disease, due to its ability to interact with specific receptors in the brain. Additionally, it is employed in the development of drugs for treating inflammation and pain, as it can modulate pathways involved in these processes. Its utility extends to the field of oncology, where it is explored for its potential in designing inhibitors that target cancer cell proliferation. The compound's versatility makes it a critical component in medicinal chemistry for discovering and optimizing new therapeutic agents.