Used in pharmaceutical research as a key intermediate in the synthesis of various biologically active compounds. It plays a role in the development of potential drugs targeting neurological disorders, including Alzheimer's disease, due to its ability to interact with specific enzymes and receptors in the brain. Additionally, it is explored in the creation of antimicrobial and anticancer agents, leveraging its structural properties to enhance therapeutic efficacy. Its derivatives are also studied for their anti-inflammatory and antioxidant properties, making it valuable in medicinal chemistry for designing novel treatments.