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, particularly those targeting neurological disorders. Its structure is often explored for developing inhibitors of specific enzymes or receptors involved in neurodegenerative diseases, such as Parkinson's or Alzheimer's. Additionally, it is investigated for its potential in creating novel compounds with anti-inflammatory or anticancer properties. Researchers also study its derivatives for their pharmacokinetic properties to optimize drug efficacy and safety.