This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its unique structure makes it valuable for developing compounds with potential therapeutic applications, particularly in the design of drugs targeting neurological disorders and inflammation. Researchers also explore its use in creating novel inhibitors for specific enzymes, which can play a role in treating diseases like cancer or autoimmune conditions. Additionally, its derivatives are studied for their potential as building blocks in organic synthesis, contributing to the development of new pharmaceuticals and fine chemicals.