This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological disorders. Its structure is often incorporated into compounds designed to interact with specific receptors in the brain, making it valuable for research into treatments for conditions like depression, anxiety, and cognitive impairments. Additionally, it has shown potential in the development of kinase inhibitors, which are crucial in cancer therapy. Its versatility in organic synthesis also makes it a useful building block for creating more complex pharmaceutical agents.