This compound is primarily utilized in the field of medicinal chemistry due to its potential pharmacological activities. It serves as a key intermediate or scaffold in the synthesis of various biologically active molecules, particularly those targeting neurological and inflammatory disorders. Researchers have explored its derivatives for their ability to modulate specific enzymes or receptors, making it a promising candidate for drug development. Additionally, its structural framework is of interest in the design of novel therapeutic agents for conditions such as Alzheimer's disease, cancer, and microbial infections. Its applications extend to academic research, where it is used to study structure-activity relationships and optimize drug-like properties.