This chemical is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug compounds. Its unique structure makes it a valuable building block for creating molecules with potential therapeutic applications, especially in the field of oncology and neurological disorders. Researchers often explore its derivatives for their biological activity, such as enzyme inhibition or receptor modulation, which can lead to the development of new medications. Additionally, it is sometimes employed in organic chemistry as an intermediate for constructing more complex heterocyclic compounds, which are essential in various drug discovery processes.