This compound is primarily utilized in pharmaceutical research and development due to its unique heterocyclic structure, which makes it a valuable building block for synthesizing various bioactive molecules. It is often employed in the creation of potential drug candidates targeting neurological disorders, as its structure can interact with specific receptors in the brain. Additionally, it serves as a key intermediate in the synthesis of compounds with potential anti-inflammatory and anticancer properties. Its versatility in organic synthesis also makes it useful in the development of novel materials and agrochemicals. Researchers frequently explore its derivatives to optimize pharmacological activity and improve drug efficacy.