This chemical 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 compounds, particularly those targeting neurological disorders. Its unique structure makes it suitable for developing inhibitors of specific enzymes or receptors involved in neurodegenerative diseases, such as Parkinson's or Alzheimer's. Additionally, it is explored in the creation of potential anticancer agents due to its ability to interact with cellular pathways that regulate cell growth and apoptosis. Researchers also investigate its application in designing drugs for psychiatric conditions, leveraging its potential to modulate neurotransmitter systems.