This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of potential therapeutic agents, especially those targeting neurological disorders and inflammation. Researchers often employ it to create derivatives that can interact with specific enzymes or receptors, aiding in the discovery of new drugs. Additionally, it has been explored for its role in designing compounds with antimicrobial and antioxidant properties, making it a versatile tool in drug development pipelines.