This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of pharmaceutical agents targeting neurological disorders, such as Alzheimer's disease and Parkinson's disease, due to its ability to interact with specific receptors in the brain. Additionally, it serves as a building block in the creation of compounds with potential anti-inflammatory and anti-cancer properties. Researchers also explore its use in designing novel inhibitors for enzymes involved in disease pathways, making it a versatile tool in drug discovery and development.