This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It serves as a building block for the development of potential therapeutic agents, particularly in the design of compounds targeting neurological disorders and cancer. Its structural framework is often incorporated into drug candidates due to its ability to interact with specific biological targets, such as enzymes or receptors, which are implicated in disease pathways. Additionally, it is explored in the creation of novel inhibitors for kinases, which play a critical role in cell signaling and are often dysregulated in cancers. Researchers also investigate its derivatives for their potential anti-inflammatory and antimicrobial properties, making it a versatile component in drug discovery efforts.