This compound is primarily utilized in the synthesis of pharmaceuticals and bioactive molecules due to its structural features, which make it a valuable building block in organic chemistry. It is often employed in the development of drugs targeting the central nervous system, as its structure can interact with neurotransmitter systems. Additionally, it serves as a precursor in the preparation of compounds with potential anti-inflammatory, antimicrobial, or anticancer properties. Its application extends to research and development in medicinal chemistry, where it is used to create novel therapeutic agents with enhanced efficacy and specificity.