This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the creation of compounds targeting neurological disorders, including potential treatments for Alzheimer's disease and other cognitive impairments. Additionally, it serves as a building block in the design of small molecule inhibitors for enzymes involved in inflammatory pathways, making it relevant for developing anti-inflammatory drugs. Its application extends to the field of organic chemistry, where it is used in the preparation of heterocyclic compounds with potential therapeutic properties.